KL tin mart set to trend upwards

The Kuala Lumpur Tin Market (KLTM) is likely to be on uptrend next week with prices set to hover around US$27,000 per
tonne, dealers said.

A dealer said strong fundamentals would spur prices to improve further.

"With the current price levels at their peak, sellers are cautious of the market," he said.

He said buyers would have no options but to buy the commodity at the current high prices if they needed it.

On Friday, the price was unchanged following firm undertone in the market.

On a Friday-to-Friday basis, the tin price on the KLTM declined by US$350 to settle at US$26,250 per tonne, while price on the London Metal Exchange shed US$200 to US$26,250 per tonne.

Total turnover declined to 160 tonnes from 197 tonnes last Friday.

The price differential between the KLTM and LME narrowed to a premium of US$420 per tonne this week from the US$575 per tonne previously. -- Bernama. Sources: Business Times