KUALA LUMPUR: The Kuala Lumpur Tin Market (KLTM) is expected to rebound and trade at between US$20,250 and US$20,400 per tonne next week, a dealer said.
He said currently, tin price was at a low level and could provide a boost for players to accumulate the commodity.
“We can potentially see a technical rebound next week,” he added.
For the week just ended, demand on the KLTM came from China, South Korea, Japan, Taiwan, European countries, Pakistan, Bangladesh, the United States and local buyers.
Meanwhile, on a Friday-to-Friday basis, tin price on the KLTM was US$360 lower at US$20,300 per tonne from US$20,660 per tonne in the previous week, while weekly turnover increased to 195 tonnes from 164 tonnes.
The price differential between the KLTM and LME was at a discount of US$85 per tonne on Friday compared with a premium of US$30 per tonne last week. - Bernama
