KUALA LUMPUR: Tin price on the Kuala Lumpur Tin Market (KLTM) is expected to be bullish this week with heighened demand, dealers said.
The market is overdone currently with inventories dwindling coupled with concerns over China's anti-inflation measures and Ireland's financial crisis, he said.
He added the market's underlying fundamentals remained steady as demand had begun to pick up following a mild recovery in the London Metal Exchange.
For this holiday-shortened week, tin price slumped US$1,320 per tonne to US$25,480 per tonne, from US$26,800 per tonne, previous Friday.
Weekly turnover dwindled to 168 tonnes compared with 355 tonnes the previous week.
The premium between KLTM and LME, based on a formula that includes freight, insurance and other financial costs, widened to US$705 per tonne against US$255 per tonne previous Friday.
KAS Price at posting:
36.5¢ Sentiment: Hold Disclosure: Held
