Tin premiums in Europe rose slightly in the week to Tuesday May 1 due to lack of availability, while premiums in both China and the United States held steady.
Indonesian smelters now allowed to renew export licenses, but when shipments will resume is unclear Chinese tin is being sold in Europe, which could put downward pressure on premiums Some US consumers refusing to purchase Bolivian tinThe London Metal Exchange's cash/three-month spread was at a backwardation of $190 per tonne on Tuesday May 1, narrowed from a $270-per-tonne backwardation a week earlier on April 24.Tom/next remained volatile and heavily traded, while the LME three-month contract held firm above $21,200 per tonne - but that price could fall in coming weeks with the resumption of Indonesian exports.Small uptick in European tin premium, but retreat expected soonThe standard-purity tin premium ticked higher in Europe this week on the back of tight spot supply availability, but the uptrend is expected to end soon on an imminent resumption of Indonesian exports after the government unlocked the export permit renewal process.The Indonesian government has...