KUALA LUMPUR: The Kuala Lumpur Tin Market (KLTM) is expected to be firmer next week on improved follow-through demand, particularly from foreign traders, said a dealer.
The dealer said the Japanese, who are traditionally big users of tin, will continue to provide strong support to the local market.
The Europeans are also expected to come in strongly, said the dealer, who expects the tin price to hover around US$20,000 per tonne next week.
He added that the KLTM, as usual, would also track closely the tin price on the London Metal Exchange (LME) for further directions.
On Friday, the tin price on the LME was slightly higher by US$15 at US$20,140 per tonne.
The KLTM ended the week sharply higher with the tin price surging US$1,610 from the previous Friday to US$21,100 per tonne.
A total of 217 tonnes were transacted for the week, up from 177 tonnes recorded in the week before.
Japanese as well as European and local traders participated actively throughout the week.
The price differential between the KLTM and the LME narrowed to a premium of US$315 per tonne compared to US$420 per tonne last week.-- Bernama