KLTM Likely To Trade Between US$17,800 And US$18,200 Per Tonne Next Week

By Niam Seet Wei KUALA LUMPUR, July 16 (Bernama) -- The Kuala Lumpur Tin Market (KLTM) is likely to trade between US$17,800 and US$18,200 next week, taking cues from the upward momentum on the London Metal Exchange (LME), said a dealer. The dealer said the demand for tin on the LME was expected to increase next week as the traders' confidence had improved. "The anticipation of more stimulus from the Bank of England, coupled with the appointment of new British prime minister after Britain voted to exit the European Union have rebuilt the confidence of the traders," he told Bernama. On the local front, he anticipated the higher demand from China and South Korea would also help spur the metal's price next week. For the week just-ended, tin finished US$440 higher at US$17,990 a tonne compared with US$17,550 a tonne last Friday. The weekly turnover rose to 237 lots from 109 lots last week. On a Friday-to-Friday basis, the price differential between the KLTM and the LME was at a discount of US$110 a tonne from a discount of US$200 a tonne. -- BERNAMA