Fastmarkets is issuing a consultation on its proposal to discontinue pricing the physical tin markets on a seaborne basis to China.
China is the world's top producer of tin, for example, in 2019 it was the ranked as the 16th biggest importer, taking in just 3,000 tonnes.
Imports have risen substantially in 2020 but buying has been sporadic and market participants have indicated that this is not a sustainable situation.
The two prices to be discontinued are:
MB-SN-0032-
Tin 99.9% ingot premium, cif Shanghai, $ per tonne, which is currently priced every two weeks.
MB-SN-0031-
Tin 99.9% low lead ingot premium, cif Shanghai, $ per tonne, also priced once every fortnight.
The consultation period for this price discontinuation will begin on Tuesday November 24 and will end on December 23 with changes taking place, subject to market feedback, from December 29.
To provide feedback on this proposal, or if you would like to provide price information by becoming a data submitter to the China tin premiums, please contact Archie Hunter by email at:
pricing@fastmarkets.com. Please add the subject heading 'FAO: Archie Hunter, re: China tin premiums.'
To see all Fastmarkets' pricing methodology and specification documents, go to
www.fastmarkets.com/about-us/methodology.