Bernama reported that the Kuala Lumpur Tin Market is expected to continue its upward momentum this week, supported by higher demand from European traders.
Dealer said the metal price is expected maintain its current level of USD 23,000 per tonne this week. The delear told Bernama that "This price level will attract more buyers and will be good for the sellers as well."
For the week just ended, the tin prices moved between USD 21,850 and USD 23,200 a tonne, supported by scattered buying from European, Japanese and locals.
The metal price on the London Metal Exchange also influenced the daily price on the local market.
Weekly turnover decreased to 175 lots from 184 lots previously.
The price differential between the KLTM and the LME widened to a premium of USD 475 per tonne from previous Friday's USD 200 a tonne.
