NEW YORK Delivered premiums for Grade A tin remained
unchanged over the past two weeks, as market players reported
steady to subdued demand.
It seems like theres plenty of material
around, one tin alloy producer told AMM.
Despite reports of some difficulties getting material into the
Port of New York and New Jersey, market players in the region
said that theyre having no problems meeting customer
Minimal transactions were reported over the past two weeks,
leaving delivered premiums for Grade A tin in the existing
trading range of $600 to $750 per tonne.
However, one tin consumer reported receiving quotes for low
purity Grade A tin at premiums as low as $425 per tonne.
However, no transactions were reported at that price
Early negotiations for next years material suggest that
premiums will likely be on par with current spot levels,
sources said. The suggestion that material might be limited
heading into the new year had premiums poised to rise heading
into 2013, but sources said that lackluster demand over the
last few weeks may continue or even worsen next year.
The feeling that Im getting from (customers) is
that they may be looking at a slowdown on buying, the
first alloy producer said.
A second alloy producer said that their negotiations for 2013
material are about $50 to $100 above last years contract
premiums and comparable with current spot
Everybodys always pushing for higher. But a lot of
people are pushing for lower, too, the trader said.
The tin market remained in a backwardation on the London Metal
Exchange Monday, with three-month tin closing at $20,500 per
tonne compared with cash tin at $20,575 per tonne in official
trading on the LME.