Tin premiums were flat across the board on Tuesday March 19, with US tin premiums continuing to face downward pressure from new market entrants, while European market participants await tangible inflows against a backdrop of Indonesian political elections and Chinese premiums keep firm amid a closed import window.
US market receives discounted premiums amid slow demand Spot inactivity, supply uncertainty limits European tin premiums China VAT cuts fails to bolster tin trade US tin holds, but faces headwinds US tin ingot premiums were unchanged this week, but under some downward pressure from excess domestic supply, new entrants to the US market, and falling exchange prices, following the resumption of Indonesian exports earlier this month. Fastmarkets assessed the Baltimore in-warehouse tin premium at $550-625 per tonne on Tuesday, unchanged week on week. The delivered US Midwest tin premium correspondingly stayed flat at $618-693 per tonne on March 19. Of limited spot business reported, buyers bought and sellers sold at their normal premiums. However, many market sources reported knowledge of foreign firms starting to offer tin at discounted premiums in the United States despite continued weak domestic end demand for tin. At least a couple of the new entrants are said...