Tin premiums in Taiwan and the United States reached new heights in the week to Tuesday February 9, with growing global supply concerns prompting sharp inclines in bids and offers while sellers continue to take control.
Chinese buying momentum hits TaiwanMyanmar production faces setbacksUS premium sets new highs amid material shortagesEuropean participants lament spot market difficultyTaiwan tin premium surges to an all-time high
News of an impending supply shortage of tin ingots in China caused tin premiums to surge in Taiwan, with Chinese consumers seeking to secure supply in the region.
Fastmarkets' assessment of the
tin 99.9% ingot premium, cif Taiwan was $300-400 per tonne on February 9, up from $200-220 per tonne on January 26. This marks the tin premium's first increase since the assessment moved up to $280-300 per tonne on May 19, 2020.
"Tin demand has always been quiet in Taiwan; but recently, even before the Myanmar coup, inquiries have been coming in and consumers are willing to pay more," a Northeast Asia-based trader said.
"Even when we offer at $420 per tonne, there is serious...