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Steadier trading for KL tin
by hlk Mon 16 Apr 2012, 07:43
The Kuala Lumpur Tin Market (KLTM) is expected to remain steady next week and hover within the region of US$22,500 per tonne and US$22,700 per tonne, dealers said.
The market will continue to see active participation from Japanese and European traders.
"However, our local tin price will continue being influenced by the London Metal Exchange (LME) which is the global tin market trend setter," one dealer said.
For the week just-ended, the KLTM closed US$450 lower at US$22,700 per tonne against US$23,150 per tonne last Friday.
The local tin movement was mixed, influenced by internal sentiment, this holiday-shortened week.
The market was closed on Wednesday in conjunction with the installation of the Yang di-Pertuan Agong Tuanku Abdul Halim Ma'adzam Shah.
Weekly turnover rose to 139 lots against 130 lots recorded last week with Japanese, European and local traders remaining active in the market.
The price differential between the KLTM and the LME widened to a premium of US$440 per tonne from US$380 per tonne last Friday. -- BERNAMA
The market will continue to see active participation from Japanese and European traders.
"However, our local tin price will continue being influenced by the London Metal Exchange (LME) which is the global tin market trend setter," one dealer said.
For the week just-ended, the KLTM closed US$450 lower at US$22,700 per tonne against US$23,150 per tonne last Friday.
The local tin movement was mixed, influenced by internal sentiment, this holiday-shortened week.
The market was closed on Wednesday in conjunction with the installation of the Yang di-Pertuan Agong Tuanku Abdul Halim Ma'adzam Shah.
Weekly turnover rose to 139 lots against 130 lots recorded last week with Japanese, European and local traders remaining active in the market.
The price differential between the KLTM and the LME widened to a premium of US$440 per tonne from US$380 per tonne last Friday. -- BERNAMA
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