KL tin market expected to continue uptrend this week

The Kuala Lumpur Tin Market (KLTM) is likely to continue its uptrend this week with prices expected to trade around US$27,500 per tonne, dealers said.

A dealer said prices would be firmer on the back of strong fundamentals and a weak US currency. “There is a shortfall in supply and demand currently. With the weather conditions in China and Indonesia, this weak supply deficit will be more than expected,” the dealer said.

On a weekly basis, the tin price on the KLTM settled at US$26,600 per tonne with a slight fall of US$50 on Friday while the tin price on the LME dropped US$500 to US$26,250 per tonne.

Total turnover decreased to 197 tonnes from 270 tonnes the previous Friday.

The price differential between the KLTM and the LME widened to a premium of US$575 per tonne last week from the US$120 per tonne previously. – Bernama. Source: The Star Online