Mild upside in tin prices likely this week

KUALA LUMPUR: THE Kuala Lumpur Tin Market (KLTM) is expected to see a mild upside bias this week, bolstered by fresh global demand, a dealer said.

The local tin market is expected to trade between US$20,800 and US$21,000 per tonne this week with active participation expected from European and Japanese traders.

“Demand is expected to pick up from Japanese and European traders. This should lend support to the local tin market,” said the dealer.

For the week just-ended, higher demand and a strong London Metal Exchange saw the metal finish US$250 higher at US$20,800 per tonne on Friday.

Local, Japanese and European traders participated actively in the market accounting for the week's turnover of 236 tonnes against the previous week's turnover of l09 tonnes.

The premium between KLTM and the LME widened slightly to US$230 per tonne on

Friday from US$215 per tonne recorded on May 12. Bernama

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