Tin mart may see cautious trade

The prices will range between US$23,000 and US23,500 per tonne, a dealer says

THE Kuala Lumpur Tin Market (KLTM) is expected to see cautious trading this week, dealers said.

They said it was hard to predict the market movement at the moment.

A dealer said sentiment was uncertain now.

“The prices will range between US$23,000 and US23,500 per tonne. The market movement will depend on the US dollar and oil price next (this) week,” he said yesterday.

Another dealer said local players would continue to rely on the influential London Metal Exchange (LME) for direction.

Tin price on the LME increased by US$700 to close at US$23,425 a tonne on Friday against US$22,725 the previous Friday.

On a Friday-to-Friday basis, the price on the KLTM rose by US$530 to US23,300 per tonne from US$22,770 per tonne previously.

Turnover for last week increased to 381 tonnes from 380 tonnes the previous week.

The premium price differential between the KLTM and LME narrowed to US$265 per tonne on Friday compared with US$435 per tonne at the end of last week. — Bernama