KL tin mart to see Europe buying

The Kuala Lumpur Tin Market (KLTM) prices were expected to stay between US$19,700 and US$19,800 next week, a dealer said.

He said the support at these levels was due to the expected demand from the European buyers after the summer.

For the week just-ended, the prices moved US$19,500 and US$19,700
although the London Metal Exchange was more volatile with closing
prices hovering between US$19,400 and US$19,725.

This was due to sellers holding back stocks against a backdrop of weak sentiment, he said.

"This week's performance was supported by demand but offers declined as
sellers were not keen to offload at current prices," said a dealer,
adding that there were scattered buying from Japanese, European and
local traders.

The metal finished the week unchanged from the previous day's US$19,700.

Weekly turnover increased to 217 tonnes from 175 tonnes last week.

On a Friday-to-Friday basis, the price differential between KLTM and
the LME narrowed to a premium of US$355 per tonne against last Friday's
US$380. --
BERNAMA