Tin flows into the London Metal Exchange late in May and June are beginning to put pressure on tin premiums basis the regions we follow, with the US ingot premiums narrowing downward on Tuesday June 4.
An additional influx to LME Baltimore warehouses pressured US premium down. European premiums hold with futures prices closer to today's. Chinese premiums extend lengthy flatline trend. US tin premium falls again after 'worst month of the year'Tin premiums in the United States declined further on Tuesday after tin that could not find a buyer in the spot market was delivered onto the London Metal Exchange in Baltimore. Some 1,355 tonnes came onto Baltimore warehouses during the latest assessment week to Tuesday, which was even more notable since tin is almost never delivered into US LME warehouses. Total on-warrant tin stocks were recorded at 3,380 tonnes on Tuesday, up by more than 80% since levels recorded in mid-May, when just 555 tonnes was deliverable to the market, the lowest level since 1989. This week, participants reported fresh inflows of material said to be of Indonesian and Malaysian-origin, while South American...