Tin price may improve this week

  • Business
  • Monday, 13 May 2013

KUALA LUMPUR: Tin price on the Kuala Lumpur Tin Market (KLTM) is expected hover between US$20,500 and US$20,700 a tonne this week, dealers said.

A dealer said the tin price is likely to linger at previous week's price or might improve due to the recent strong economic data from the US, Europe and China suggesting recovery may be gathering steam.

“We are expecting the tin market to pick up. There are some predictions that it could go up, however, it could also be vice versa as it is a volatile market. It might also follow the copper and gold markets,” he said.

During the week just ended, the tin price on the KLTM moved within a range of between US$20,300 and US$20,650 a tonne amid a firmer market.

The dealer said the market was firmer with European buyers dominating the trading, followed by the Japanese and locals.

Total weekly turnover increased to 180 tonnes from 109 tonnes previously. The price differential between the KLTM and the LME narrowed to a premium of US$215 per tonne from US$520 per tonne previous Friday. Bernama

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