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NewsContinued buying demand for KL tin
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Continued buying demand for KL tin
by hlk Mon 11 Jul 2011, 01:39
The Kuala Lumpur Tin Market (KLTM) is likely to trade higher, at around the US$27,500 level next week.
A dealer said buying demand may continue into the week, particularly from Europe.
"Buying demand is still seen and expected to continue next week. There may in fact be quite good demand, mainly from Europe," he added.
For the week just-ended, trading of tin on the LME was firmer with the price ranging from US$25,655 per tonne-US$27,540 per tonne.
On the KLTM, the metal was traded firmer backed by constant demand from Japan, European and local buyers.
On a Friday-to-Friday basis, the tin price ended the week US$1,750 higher at US$27,400 per tonne from US$25,650 per tonne last Friday.
Weekly turnover however, fell to 260 tonnes from the 320 tonnes registered previously.
The premium between the KLTM and the LME widened to US$250 per tonne compared to a discount of US$50 per tonne previously. -- Bernama
A dealer said buying demand may continue into the week, particularly from Europe.
"Buying demand is still seen and expected to continue next week. There may in fact be quite good demand, mainly from Europe," he added.
For the week just-ended, trading of tin on the LME was firmer with the price ranging from US$25,655 per tonne-US$27,540 per tonne.
On the KLTM, the metal was traded firmer backed by constant demand from Japan, European and local buyers.
On a Friday-to-Friday basis, the tin price ended the week US$1,750 higher at US$27,400 per tonne from US$25,650 per tonne last Friday.
Weekly turnover however, fell to 260 tonnes from the 320 tonnes registered previously.
The premium between the KLTM and the LME widened to US$250 per tonne compared to a discount of US$50 per tonne previously. -- Bernama
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