The prevailing backwardation of London Metal Exchange tin prices continued to encourage lower offer prices in Europe and the United States, with premiums falling stateside on November 2, while premiums in Taiwan were steady despite the ongoing destocking of LME inventories.
In-warehouse premiums in Rotterdam and Baltimore drop slightly amid more supply and lower offersLME stocks at 645 tonnes, the lowest since 1989, with 445 tonnes on-warrant and available to marketCash-to-three-month backwardation trades between $1,000-2,000 per tonne in the past fortnightMalaysian Smelting Corporation expected to lift force majeure by end of November, the company told the International Tin AssociationContinued tin shortage checks US premiums' slideThe US...