Spot business in the global tin markets was somewhat subdued over the two weeks ended Tuesday November 5, with metals industry participants away at the London Metal Exchange's biggest event, LME Week in London, October 27-November 1.
Possible return to low tin ingot premiums in Baltimore, US European premiums stay down on low demand Asian premiums show no uplift from recently announced production cuts.US tin premiums hold, but views divergeSpot premiums for tin ingot in the United States were unchanged over the period, with all business done and offered in the existing price range, although several sources estimated premium ranges to be lower.Similarly, LME Week, which overlapped with the two-week assessment period, illustrated how differently people view the market. Sources variously reported the mood at the metal industry's foremost event as both "bullish" and "pessimistic."Fastmarkets' calculation of the tin 99.85% ingot premium, in-whs Baltimore, was unchanged at $430-575 per tonne on November 5, the level to which it rose on October 8.And Fastmarkets' calculation of the tin grade-A, min 99.85% ingot, premium, ddp Midwest US, remained at $520-610 per tonne on November 5,...