KLTM To Continue Downward Trend Next Week

KUALA LUMPUR, June 27 (Bernama) -- The Kuala Lumpur Tin Market (KLTM) is expected to continue its downward trend next week as sellers are expected to remain on the sidelines. The metal is anticipated to hover around US$15,000 per tonne as sellers were uncomfortable to unload their stocks at current levels as the price had hit a five-year-low. The market traded mostly lower for the week just-ended in tandem with the sentiment on the London Metal Stock Exchange (LME). The Kuala Lumpur Tin Market (KLTM) ended the week US$200 lower at US$15,100 per tonne on the lack of buying interest. Meanwhile, Japanese, European and local players accounted for the week's turnover of 275 tonnes against 226 tonnes registered last week. The premium between the KLTM and LME widened to US$355 per tonne on Friday versus US$110 per tonne last Friday. -- BERNAMA