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Tin market expected to be steady this week
by hlk Mon 04 Jul 2011, 07:32
KUALA LUMPUR: The Kuala Lumpur Tin Market (KLTM) prices are expected to be steady this week on strong demand from Japanese, European and local traders, dealers said.
They said the metal would likely trade at between US$25,500 and US$26,000 with sentiment to be in line with the performance on the London Metal Exchange (LME).
During the week just-ended, trading was thin as buyers stayed on the sidelines to await the further fall in price.
On the KLTM, tin rose by US$300 to close the week at US$25,650 per tonne from US$25,350 the previous week.
On the LME, it rose to US$26,055 per tonne from US$25,200 previously.
Total weekly turnover on the KLTM increased to 320 tonnes from 189 tonnes previous week.
Meanwhile, the price differential between the KLTM and the LME was at a discount of US$50 against a premium of US$540 at the end of previous week. Bernama
They said the metal would likely trade at between US$25,500 and US$26,000 with sentiment to be in line with the performance on the London Metal Exchange (LME).
During the week just-ended, trading was thin as buyers stayed on the sidelines to await the further fall in price.
On the KLTM, tin rose by US$300 to close the week at US$25,650 per tonne from US$25,350 the previous week.
On the LME, it rose to US$26,055 per tonne from US$25,200 previously.
Total weekly turnover on the KLTM increased to 320 tonnes from 189 tonnes previous week.
Meanwhile, the price differential between the KLTM and the LME was at a discount of US$50 against a premium of US$540 at the end of previous week. Bernama
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