The tin price on the Kuala Lumpur Tin Market (KLTM) is expected to trade at around US$23,000 per tonne next week, with buying support mostly from European and Japan buyers, a dealer said.
He told Bernama the price would be supported at this level as the economic data coming out from the United States, Europe and China seem favourable to the metal.
"The buyers were also not keen to sell below the US$23,000 level. The price was stable for the whole week and should be able to maintain next week," he added.
For the week just ended, the local tin price moved between US$22,830 and US$23,000 per tonne, mostly influenced by the trends in the metal's price on the London Metal Exchange (LME).
On a Friday-to-Friday basis, the local tin price ended the week at US$23,000 per tonne, compared with US$22,995 per tonne previously.
Weekly turnover stood at 216 lots, unchanged from last week, with European, Japanese and local buyers dominating the market.
The price differential between the KLTM and LME rose to a premium of US$455 per tonne from US$370 per tonne last Friday
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