GLOBAL TIN WRAP: US tin shortages see premiums continue to rise; Europe trade quiet

Tin premiums in the United States continued their pronounced rise in the week to Tuesday January 12, with shortages of material in the region driving continued panic-buying, while the metal's soaring price and tight spreads on the London Metal Exchange limited the spot-market opportunities in Europe.

Panic buying sees US market strengthenEuropean demand hits plateau despite short supplyLME price breaches $21,000 per tonne.
US tin consumers squeezed as premiums rocket
Extreme tin shortages in the US catapulted the Baltimore and Midwest premiums to their highest-ever levels in Fastmarkets' latest assessments on January 12, gaining by 32% and 44% respectively in the past two weeks.
What was a normally small and stable market has erupted, with no tin being produced in the country and imports expected to be delayed amid shipping problems caused by the Covid-19 pandemic.

The premium for tin delivered to consumers' premises showed the biggest jump on Tuesday, with an increase of $275 per tonne at the assessment midpoint since December 29. Some isolated delivered sales and offers, outside Fastmarkets' range, were reported as much...

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