Improved demand to lift KL tin mart

The Kuala Lumpur Tin Market(KLTM) are expected to be higher next week on improved demand after the summer season, dealers said.

A dealer said manufacturers were expected to re-stock their inventories after the summer holidays with factories increasing their production with the beginning of autumn.

"However, there will not be a big jump in prices as investors will be cautious over the health of the global economy due to uncertainty in the euro zone debt crisis and the weaknesses in the US economy," he said.

The KLTM was closed for three day for Hari Raya and Merdeka Day celebrations from Tuesday to Thursday.

For the holiday-shortened week just-ended, the KLTM prices were on the uptrend with strong demand from European and Japanese to cover the shortfall due to the holidays.

On a Friday-to-Friday basis, the KLTM price increased by US$800 to US$24,150 per tonne from US$23,350 per tonne last Friday.

Turnover, however, fell to 102 tonnes from 265 tonnes last week.

The premium between the KLTM and the London Metal Exchange decreased to US$255 per tonne from US$385 per tonne last Friday. -- Bernama