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Continued demand to lift KL tin mart
by hlk Mon 10 Oct 2011, 01:21
The Kuala Lumpur Tin Market (KLTM) is expected to rise further.
"Demand is still there despite uncertainties in the global economy," a dealer said.
He said buying activities were expected to pick up next week while sellers might reserve their stocks, anticipating prices go higher.
The daily movement of metal prices on the London Metal Exchange (LME) would also continue to influence the local market's performance, he said.
This week, the KLTM jumped US$1,230 to close at US$22,100 per tonne while LME tin rose US$1,445 to US$22,145 per tonne.
Total weekly turnover rose to 245 tonnes from 182 tonnes with Japanese, European and local traders accounting for the week's trading.
The premium between the KLTM and the LME narrowed to US$295 per tonne from US$550 per tonne previously. -- Bernama
"Demand is still there despite uncertainties in the global economy," a dealer said.
He said buying activities were expected to pick up next week while sellers might reserve their stocks, anticipating prices go higher.
The daily movement of metal prices on the London Metal Exchange (LME) would also continue to influence the local market's performance, he said.
This week, the KLTM jumped US$1,230 to close at US$22,100 per tonne while LME tin rose US$1,445 to US$22,145 per tonne.
Total weekly turnover rose to 245 tonnes from 182 tonnes with Japanese, European and local traders accounting for the week's trading.
The premium between the KLTM and the LME narrowed to US$295 per tonne from US$550 per tonne previously. -- Bernama
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