KL tin market in uncertain mode

The Kuala Lumpur Tin Market (KLTM) is likely to be in an uncertain mode next week due to an absence of market-moving leads in the external market, dealers said.

"Trading could be narrow-ranged," a dealer said, adding that the market would maintain trading between US$22,500 and US$22,700 per tonne next week.

He said the market would continue to track the London Metal Exchange (LME) movement next week, which influences global prices.

Speculative buying may support the metal price's performance, he said.

For the week just ended, the KLTM closed US$450 higher at US$22,700 per tonne compared to last Friday's US$22,250 per tonne.

The trend throughout this week was mixed with the local market performing against developments on the LME.

Weekly turnover dwindled to 146 lots from 180 lots recorded in the previous week, with participation from Japanese, European and local traders.

The price differential between the KLTM and the LME narrowed to a premium of US$350 per tonne from US$540 per tonne recorded on Friday. -- Bernama