KUALA LUMPUR: The Kuala Lumpur Tin Market (KLTM) is expected hover around current levels next week on lack of catalyst to push the price upwards, a dealer said
He said the metal was expected to hover around US$14,500 per tonne as declining oil prices and the strengthening US dollar continue to dampen sentiment.
“The current price level is much below the average. In normal conditions, the average tin price should be around US$20,000 per tonne,” he told Bernama.
The dealer, however, was optimistic tin price would come back to normalcy over the next six months.
For the week-just-ended, the market was mostly lower in tandem with the sentiment on the London Metal Exchange (LME).
The kLTM ended the week US$500 lower at US$14,450 per tonne on lack of buying interest.
Japanese, European and local players accounted for the week’s turnover of 213 tonnes against 275 tonnes traded last week.
The premium between the KLTM and LME narrowed to US$335 per tonne versus US$355 per tonne previously. --BERNAMA