Buying activities on the Kuala Lumpur Tin Market (KLTM) are expected to pick up next week but sellers may reserve their stocks in anticipation of a higher tin price, a dealer said.
The daily metal price movements on the London Metal Exchange (LME) would continue to influence the price on KLTM, he said.
"We expect the price to remain at the US$22,000 level next week," he added.
Tin price on the KLTM ended the week at US$22,000 per tonne, unchanged from the previous weekly closing while on the LME, it fell US$50 to US$22,005 per tonne.
The total weekly turnover rose to 235 tonnes from 176 tonnes with Japanese, European and local traders accounting for the week's transactions.
Price differential between the KLTM and LME widened to a premium of US$335 per tonne from US$285 per tonne previously.
The KLTM will be closed on Monday in conjunction with the Hari Raya Aidil Adha celebration which falls on Sunday. -- Bernama
The daily metal price movements on the London Metal Exchange (LME) would continue to influence the price on KLTM, he said.
"We expect the price to remain at the US$22,000 level next week," he added.
Tin price on the KLTM ended the week at US$22,000 per tonne, unchanged from the previous weekly closing while on the LME, it fell US$50 to US$22,005 per tonne.
The total weekly turnover rose to 235 tonnes from 176 tonnes with Japanese, European and local traders accounting for the week's transactions.
Price differential between the KLTM and LME widened to a premium of US$335 per tonne from US$285 per tonne previously.
The KLTM will be closed on Monday in conjunction with the Hari Raya Aidil Adha celebration which falls on Sunday. -- Bernama
