Deteriorating shipping conditions and a continuing lack of production from the giant Malaysia Smelting Corp pushed Western tin premiums to new peaks in the week to Tuesday June 15.
US premiums routinely surpass $3,000 per tonneEuropean traders foresee further rises from MSC, soaring shipping costsCovid-19 pandemic factors into subdued trade in Taiwan.US buyers shocked by premiums
Tin premiums in the United States seem to know no limits, rising by almost 16% in the past two weeks and leaving buyers in shock at deals routinely being conducted above $3,000 per tonne.
The world's second-largest tin exporter, Malaysia Smelting Corp (MSC), declared itself
unable to produce tin in the middle of the assessment period, due to Covid-19 lockdowns in Malaysia that have since been extended to the end of June.
US sources did not universally share the view in Europe that
the US would be most affected by MSC's declaration of
force majeure on June 7.
The US was already badly hit by the global shortage of 2021 because it imports almost all the...