GLOBAL TIN WRAP: Shanghai import arb narrows but premiums hold; US, European spot demand weakens

摘要

Global tin premiums were broadly static in the fortnight to Tuesday June 16, with a narrowing import arbitrage window for shipment into China doing little to sway weak demand conditions, and forward spreads continue to deter business elsewhere. - Shanghai buying appetite reduces amid narrowed arbitrage. - US premiums remain flat but weakening demand, widening backwardation expected to hit premiums. - European demand continues to struggle amid seasonal lull.