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KL tin market faces uncertainty
by hlk Sun 17 Jul 2011, 20:45
The Kuala Lumpur Tin Market (KLTM) is likely to see a range bound trade next week, with the metal's price to hover between US$27,200 and US$27,400 per tonne.
A dealer said the market was expected to remain uncertain next week with traders awaiting economic reports from the US, China and Europe.
For the week just-ended, tin on the LME was traded from US$26,600 per tonne to US$27,450 per tonne.
On the KLTM, the metal was traded firmer backed by constant demand from Japan, European and local buyers.
The commodity's price ended this week US$100 lower at US$27,300 per tonne from US$27,400 per tonne last Friday.
Weekly turnover fell to 256 tonnes from 260 tonnes last week.
The premium between the KLTM and the LME widened to US$255 per tonne.-- Bernama
A dealer said the market was expected to remain uncertain next week with traders awaiting economic reports from the US, China and Europe.
For the week just-ended, tin on the LME was traded from US$26,600 per tonne to US$27,450 per tonne.
On the KLTM, the metal was traded firmer backed by constant demand from Japan, European and local buyers.
The commodity's price ended this week US$100 lower at US$27,300 per tonne from US$27,400 per tonne last Friday.
Weekly turnover fell to 256 tonnes from 260 tonnes last week.
The premium between the KLTM and the LME widened to US$255 per tonne.-- Bernama
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