The Kuala Lumpur Tin Market is expected to continue its upward momentum this week, supported by tight supply and strong demand from the Japanese and European buyers
A dealer said that the metal's price may touch USD 23,500 per tonne this week. He said that among the six metals on the London Metal Exchange, tin was the best performer for this year.
For the week just-ended, tin price on the KLTM was on a rising trend with strong demand from foreign buyers.
On a Friday to Friday basis, tin price on the KLTM gained USD 350 per tonne to USD 23,400 per tonne from USD 23,050 the previous Friday.
Turnover increased to 205 lots from 175 lots the previous week.
The price differential between the KLTM and the LME remained at the same level as previous Friday's, which was at a premium of USD 475 per tonne.
Source:
http://www.steelguru.com/metals_news/KLTM_seen_to_continue_upward_momentum_this_week/296373.html
