Quiet week ahead for KL tin mart

The Kuala Lumpur Tin Market (KLTM) is expected to be quiet next week with players sidelined due to the three-day break for the Hari Raya and National Day holidays, a dealer said.

However, he said the market which will be closed from Tuesday-Thursday, should see some pre-holiday buying on Monday.

For the week just ended, the KLTM saw mixed trading in the first two days with an increase on Wednesday.

On Thursday, however, the price dipped to US$23,100 per tonne before recovering on Friday to US$23,350 per tonne.

Dealers noted that the trend for next week will be similar to the week ended with the price remaining around the last traded level.

For the week ended, Friday saw active trading with 63 lots done and also the highest price recorded.

The week saw the active participation of Japanese, European and local buyers.

On a Friday-to-Friday basis, the tin price was unchanged at US$23,050 per tonne.

Weekly turnover rose to 265 tonnes against the 226 tonnes last Friday.

Meanwhile, the premium between the KLTM and the LME decreased to US$385 per tonne versus US$660 per tonne previously.--Bernama