Premiums for tin ingot in the United States edged lower this week, primarily due to a lack of fundamental support in the domestic market, while a declining London Metal Exchange tin price further exacerbated business conditions, but did little to budge European and Asian premiums.
US premium falls for the first time in six weeks Warrant availability stifles European physical market Asia tin demand remains muted US tin premiums resume their slide The US tin ingot premium lurched down on Tuesday July 30, resuming a descent begun in the second quarter on evidently weak fundamentals in the domestic market, exacerbated by a declining LME tin price. Fastmarkets' assessment of the tin 99.85% ingot premium, in-whs Baltimore was $375-475 per tonne on Tuesday, down from $450-525 per tonne on July 16. The premium had been stable above $450 for six weeks, following several declines in the second quarter that saw it fall from $525-600 per tonne - the level that prevailed for most of the first quarter. This week, the delivered premium fell almost in line with the port assessment amid pretty stable freight costs. Fastmarkets' assessment for the tin grade A min 99.85% ingot premium,...