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Monday February 6, 2012
KLTM set to be higher this week
KUALA LUMPUR: The Kuala Lumpur Tin Market (KLTM) is set to be higher this week on renewed buying interest from the Europeans, dealers said.
They said this came in the wake of stronger-than-expected manufacturing data from China and Europe.
The prices on the KLTM would likely move between US$24,000 and US$24,200 per tonne this week.
For the week just-ended, the KLTM prices were range-bound.
The prices, however, recovered on Thursday but closed lower on Friday due to pre-holiday selling.
On Friday-to-Friday basis, tin prices on the KLTM rose by US$45 to US$24,050 per tonne from US$24,005 per tonne previous Friday.
Turnover increased to 243 tonnes from 210 tonnes previous week.
The price differential between the KLTM and the LME stood at a premium of US$215 per tonne from US$310 per tonne previous week. Bernama
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