The Star reported that the Kuala Lumpur Tin Market prices were expected to stay between USD 19,700 and USD 19,800 this week.

A dealer said that the support at these levels was due to the expected demand from the European buyers after the summer. For the week just ended, the prices moved USD 19,500 and USD 19,700 although the London Metal Exchange was more volatile with closing prices hovering between USD 19,400 and USD 19,725. This was due to sellers holding back stocks against a backdrop of weak sentiment.

He said that this week's last performance was supported by demand but offers declined as sellers were not keen to offload at current prices. There were scattered buying from Japanese, European and local traders.

The metal finished the week unchanged from the previous day's USD 19,700. Weekly turnover increased to 217 tonnes from 175 tonnes previously. On a Friday to Friday basis, the price differential between KLTM and the LME narrowed to a premium of USD 355 per tonne against USD 380.

Source - The Star.com

(www.steelguru.com)