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NewsRenewed buying interest for KL tin seen
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Renewed buying interest for KL tin seen
by hlk Sat 17 Mar 2012, 15:53
The Kuala Lumpur Tin Market (KLTM) is expected to be steady next week on renewed buying interest, dealers said.
A dealer said the bearish sentiment on Thursday and Friday was expected to end and the prices would hover between US$23,800 and US$24,000 a tonne next week on renewed buying interest.
"There'll be buyers next week, particularly from Europe," he said.
He said the KLTM would also be tracking the metal's price movements on the London Metal Exchange (LME).
For the week just-ended, the prices on the local market fluctuated between US$23,000 and US$24,100, with demand mostly from European buyers.
The tin price closed the week at US$23,800 a tonne, up US$950 from US$22,850 last Friday.
Turnover declined to 232 tonnes from 248 tonnes previously.
The price differential between the KLTM and the LME stood at a premium of US$500 on Friday compared with US$450 last week. -- Bernama
A dealer said the bearish sentiment on Thursday and Friday was expected to end and the prices would hover between US$23,800 and US$24,000 a tonne next week on renewed buying interest.
"There'll be buyers next week, particularly from Europe," he said.
He said the KLTM would also be tracking the metal's price movements on the London Metal Exchange (LME).
For the week just-ended, the prices on the local market fluctuated between US$23,000 and US$24,100, with demand mostly from European buyers.
The tin price closed the week at US$23,800 a tonne, up US$950 from US$22,850 last Friday.
Turnover declined to 232 tonnes from 248 tonnes previously.
The price differential between the KLTM and the LME stood at a premium of US$500 on Friday compared with US$450 last week. -- Bernama
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