TIN PRICE TO REMAIN UNCERTAIN NEXT WEEK

12 Jul 2013 11:19

KUALA LUMPUR, July 5 (Bernama) -- The Kuala Lumpur Tin Market (KLTM) is expected to remain uncertain next week as traders cautiously await the release of economic data from United States and China.

A dealer said other minerals, especially copper, were on the downtrend and this could hurt the demand for tin as well.

"This would weigh on prices and pressure investors to adopt a wait-and-see attitude before fresh leads appear," said a dealer, adding that the metal could hover around US$20,000 per tonne next week," he added.

For the week just-ended, tin ended US$200 higher at US$19,750 per tonne.

Weekly turnover increased to 201 tonnes from the 189 tonnes last week with European, Japanese and local traders accounting for the week's transaction. The price differential between the KLTM and the LME narrowed to a smaller premium of US$285 per tonne from US$335 per tonne recorded last Friday.

-- BERNAMA

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