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KL tin mart to move within current levels
by hlk Sat 10 Dec 2011, 18:53
The Kuala Lumpur Tin Market (KLTM) prices are expected to move within the current levels next week on traders' reluctance to take on any heavy position due to the uncertain global economic outlook, dealers said.
A dealer said, however, a positive outcome from the two-day summit by European leaders in Brussels would push the prices up, moving out of the current range.
The London Metal Exchange, the global price trendsetter for the metals, would also influence the movements on the local market, he said.
For the week just-ended, tin price fell by US$100 to US$20,300 per tonne from US20,200 last Friday.
Turnover increased to 234 tonnes from 186 tonnes previously.
The price differential between the KLTM and the LME widened to a premium of US$490 against US$415 last Friday. -- Bernama
A dealer said, however, a positive outcome from the two-day summit by European leaders in Brussels would push the prices up, moving out of the current range.
The London Metal Exchange, the global price trendsetter for the metals, would also influence the movements on the local market, he said.
For the week just-ended, tin price fell by US$100 to US$20,300 per tonne from US20,200 last Friday.
Turnover increased to 234 tonnes from 186 tonnes previously.
The price differential between the KLTM and the LME widened to a premium of US$490 against US$415 last Friday. -- Bernama
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