The Star reported that the Kuala Lumpur Tin Market is likely to trend lower this week amid uncertainty mainly due to the European debt crisis and its impact on the global market.

Dealers said that uncertainties in the overseas markets would make it difficult to predict the prices for this week. For the holiday shortened week just ended, the price on the KLTM dropped by USD 1,050 per tonne to USD 19,650 per tonne having moved to a high of USD 20,700.

The market was closed last Friday for the Merdeka Day celebrations. Throughout the week, trading was mixed with buyers and sellers cautiously tracking the performance on the London Metal Exchange.

The KLTM opened the week at USD 20,700 per tonne but its performance deteriorated to end the week at USD 19,650 per tonne largely influenced by the bearish performance on the LME.

Weekly turnover increased to 175 tonnes from 169 tonnes previous week. The price differential between KLTM and the LME increased to a premium of USD 380 per tonne against previous Friday's USD 200 per tonne.

Source - The Star.com

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