Tin market expected to continue bearish momentum this week


KUALA LUMPUR: The Kuala Lumpur Tin Market (KLTM) is expected to continue its bearish momentum this week as the underlying fundamentals remained weak.

A dealer said the absence of fresh, market moving factors would drive the tin price to hover between US$22,500 and US$23,000 a tonne this week.

The metal's price closed at US$22,700 a tonne, down US$100 from Thursday.

Trading was lower throughout the week just ended with Japanese, European and local traders dominating the market.

Weekly turnover decreased to 146 tonnes from 206 tonnes previously.

The price differential between the KLTM and the LME widened to a premium of US$535 per tonne from US$405 a tonne previous Friday. Bernama

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