Tin ingot premiums in the United States moved up in the week to March 24 on physical supply concerns, with similar fears affecting European market sentiment while Chinese premiums are flat amid ample availability.
This all comes despite a near 27% decline in the London Metal Exchange tin price over a fortnightly period.
European premiums hold firm but availability a concern. Supply concerns push up United States' tin premiums. Weakened demand keeps Chinese premium steady. US premiums up on supply worry
Tin ingot premiums rose in the United States on Tuesday, with buyers moving to secure raw materials following foreign producer stoppages to curb the coronavirus (2019-nCoV) pandemic, sources said.
With trucking shortages making deliveries less certain, both the delivered and in-warehouse tin premiums in the US rose.
Fastmarkets' price assessment for
tin 99.85% ingot premium, in-whs Baltimore was $450-600 per tonne on Tuesday March 24, up from $400-550 per tonne on March 10.
Fastmarkets' price assessment for tin grade-A min 99.85% ingot premium, ddp Midwest US was $500-675 per tonne, Tuesday, up from $455-600 per tonne at the start of the two-week...