A climbing London Metal Exchange tin price and continued contango were at odds with dim physical demand in the United States and Europe in the week to Tuesday October 20.
US tin demand continued to be weak but higher freight costs capped the slide in the delivered price. European trading activity was absent this week. There were few imports to China, keeping premiums stagnant. Tin premium declines alongside US trade
Sellers in the US reported continued lower demand in October than September and, with it, a slight decline in premiums.
Fastmarkets' assessment of the
tin 99.85% ingot premium, in-whs Baltimore was $400-495 per tonne on October 20, down from $400-515 per tonne on October 6.
Meanwhile, rising freight costs, as are typical during harvest season, kept the US delivered tin premium from falling. Fastmarkets' assessed the
tin grade A min 99.85% ingot premium, ddp Midwest US at $450-555 per tonne, unchanged since September 22.
One buyer of delivered tin reported paying $20 per tonne more than usual, but still within Fastmarkets' range.
At this time...