Tight supply in the spot market has sent tin premiums in the United States back up to April 2019 levels while the London Metal Exchange price climbed toward its highest price of 2020 in the past two weeks.
Renewed demand, scant domestic supply push US premiums 4-22% higherHigh freight, metal costs subdue European spot trade Chinese premiums flat amid few importsUS supply shortage boosts premiums
Tin premiums jumped in the US when returning spot demand met extremely limited prompt supply, producing a 21.7% rise over the two-week assessment period for the in-warehouse premium.
Meanwhile, the delivered premium, which had already risen in three of the last four assessments on rising trucking rates, gained a more modest 4.2% because trucking prices reportedly stabilized.
Fastmarkets' assessment of the
tin 99.85% ingot premium, in-whs Baltimore was $500-650 per tonne on Tuesday December 15, up by $50-155 per tonne from $450-495 per tonne on December 1. The midpoint of this range is at its highest since April 2019, when premiums were assessed at $525-600 per tonne.
Meanwhile, Fastmarkets' assessed the tin grade A min 99.85% ingot premium,...