Tin price to move US$22,500-US$22,800

Physical tin on the Kuala Lumpur Tin Market (KLTM) is expected to remain steady with prices fluctuating between US$22,500 and US$22,800 per tonne next week.

The lack of supply from Indonesia and seasonal demand from European and Japanese buyers were expected to push the metal's price higher.

"Indonesian government ruling, which restricted the export of tin from the country, may end up being a long-term measure.

"The halt in exports from Indonesia has prompted the supply setback in the market," a dealer told Bernama.

For the week just-ended, prices moved between US$22,670 and US$22,850 per tonne, mostly influenced by the movements on the LME.

It ended US$670 per tonne higher at US$22,670 per tonne against last Friday's US$23,000 per tonne.

Weekly turnover increased to 261 lots, from 216 lots last week, with Japanese, European and local buyers dominating local trade.

The price differential between the KLTM and the LME widened to a premium of US$540 per tonne from US$455 per tonne last Friday.