Business

Monday March 4, 2013

Tin prices seen to hover around US$23,500 this week


KUALA LUMPUR: Tin prices on the Kuala Lumpur Tin Market (KLTM) are expected to hover around US$23,500 this week, a dealer said.

He said the prices would fluctuate because of the poor external economic conditions.

“It's very difficult to predict the prices for next week (this week). They are likely to move within a tight range,” he said.

During the week just-ended, the metal's prices moved between US$23,280 at its lowest and US$23,600 at its highest with the participation from European, Japanese and local buyers.

The dealer said the market was easier as buyers were cautious and sellers reluctant to sell when the price fell last week.

Weekly turnover increased to 181 lots from 173 lots previous week, with the Japanese, European and local buyers dominating the market.

The price differential between the KLTM and the LME narrowed to a premium of US$525 per tonne from US$580 per tonne previous Friday. Bernama

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