KLTM to trend higher next week
KUALA LUMPUR - The Kuala Lumpur Tin Market (KLTM) is expected to trade higher next week on a sustained tight supply for the base metal.
A dealer told Bernama that the local market may witness prices trending higher next week at between US$45,000 and US$50,000 per tonne.
"There was a high increase in demand for tin, but the limited supply due to disruptions in production in China, Indonesia and Myanmar, have caused prices to rise further,” he said.
He added that the KLTM will also move in line with the tin price on the London Metal Exchange.
For the week just ended, the KLTM only recorded two days of transactions which saw the price jumping US$42,020 per tonne, supported by high demand for the metal.
Weekly turnover rose to 11 lots from 10 lots last week. - BERNAMA
