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KL tin mart likely to see subdued interest
by hlk Sun 04 Dec 2011, 23:43
The Kuala Lumpur Tin Market (KLTM) is expected to see subdued interest given the fact that traders were unwilling to take on heavy positions against the backdrop of global uncertainty, dealers said.
Trading is expected to be moderate with the metal hovering within a narrow range of between US$20,000 per tonne and US$20,500 per tonne throughout next week.
Developments on the London Metal Exchange, the global trendsetter for metals, would also influence movements on the local market, said a dealer.
For the week just-ended, the market fell for three consecutive days after opening on a positive note on Tuesday.
The market was closed on Monday for the Awal Muharram holiday.
The metal closed the week at US$20,200 per tonne, from US$20,450 per tonne, last Friday with turnover reduced at 186 tonnes, from 210 tonnes, previously.
The price differential between the KLTM and the LME narrowed to a premium of US$415 against US$440 last Friday. -- Bernama
Trading is expected to be moderate with the metal hovering within a narrow range of between US$20,000 per tonne and US$20,500 per tonne throughout next week.
Developments on the London Metal Exchange, the global trendsetter for metals, would also influence movements on the local market, said a dealer.
For the week just-ended, the market fell for three consecutive days after opening on a positive note on Tuesday.
The market was closed on Monday for the Awal Muharram holiday.
The metal closed the week at US$20,200 per tonne, from US$20,450 per tonne, last Friday with turnover reduced at 186 tonnes, from 210 tonnes, previously.
The price differential between the KLTM and the LME narrowed to a premium of US$415 against US$440 last Friday. -- Bernama
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