The Kuala Lumpur Tin Market (KLTM) is expected to stage a better performance next week, with higher demand from the Japanese, European and local buyers, dealers said.
A dealer said the metal's price is likely to surge to around US$22,200 a tonne next week.
“We expect tin price to move higher as the prices of all metals have spiralled due to the Eurozone agreement to help debt-laden Greece.
"We expect to see demand for the metal with active buying activities," he added. For the week just-ended, the metal closed US$300 higher at US$22,000 a tonne from US$21,700 a tonne yesterday.
The four-day week saw KLTM staging steady performance, recording gains on most of the days except on Thursday as there was no buying activity at all, partly due to the Deepavali public holiday on Wednesday. The KLTM opened the week with a US$150 gain to US21,850 a tonne and the metal was traded at US$22,400 high a tonne on Tuesday and US$21,850 low a tonne on the first day trading for the week.
Total turnover for the week dwindled to 176 tonnes from 205 tonnes last week.
The premium between the KLTM and the LME stood at US$285 a tonne compared to US$790 a tonne on Friday. -- Bernama
A dealer said the metal's price is likely to surge to around US$22,200 a tonne next week.
“We expect tin price to move higher as the prices of all metals have spiralled due to the Eurozone agreement to help debt-laden Greece.
"We expect to see demand for the metal with active buying activities," he added. For the week just-ended, the metal closed US$300 higher at US$22,000 a tonne from US$21,700 a tonne yesterday.
The four-day week saw KLTM staging steady performance, recording gains on most of the days except on Thursday as there was no buying activity at all, partly due to the Deepavali public holiday on Wednesday. The KLTM opened the week with a US$150 gain to US21,850 a tonne and the metal was traded at US$22,400 high a tonne on Tuesday and US$21,850 low a tonne on the first day trading for the week.
Total turnover for the week dwindled to 176 tonnes from 205 tonnes last week.
The premium between the KLTM and the LME stood at US$285 a tonne compared to US$790 a tonne on Friday. -- Bernama
