The European low-lead tin premium moved for the first time in 15 weeks on Tuesday September 24, reflecting a combination of reduced exports amid US-imposed tariffs on steel and stagnant demand, while the latter factor kept both US and Asian premiums stable.
Low-lead European premium suffers in 15% drop Illiquidity stifles US market Closed import window limits Asian business European low lead premium drops amid subdued demand Fastmarkets assessed the tin 99.9% low lead ingot premium, in-whs Rotterdam at $400-475 per tonne on Tuesday from $475-530 per tonne a week ago, marking a 15% downturn at the midpoint and the premium's first move since June 11. Against a backdrop of US-imposed tariffs of 25% on steel products from the European Union introduced last year, the European low-lead tin market has suffered amid reduced exports of tinplate - often used in packaging and containing rolled steel - to the United States. As a result, spot business in low-lead tin, which incorporates less than 100 parts per million (ppm) lead content,...