Tin price to continue uptrend next week

  • Business Premium
  • Saturday, 25 Jan 2014

KUALA LUMPUR: The tin price on the Kuala Lumpur Tin Market (KLTM) is likely to trend higher next week on limited supply, dealers said.

A dealer said the current worldwide stock for tin stands at 9,170 tonnes, the lowest level in 23 months.

"With limited stocks, prices should be around US$22,200 and US$22,400 next week," he said.

For the week just ended, the local tin price closed unchanged from last week's US$22,200 per tonne.

Weekly turnover rose to 238 lots from 208 lots last week, with Japanese and European traders dominating the market, followed by local traders.

The premium between the KLTM and London Metal Exchange (LME) widened to US$560 a tonne from US$210 per tonne on Thursday last week. - BERNAMA

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