Demand intact to drive up tin prices Published: 2010/07/31
Continued demand, especially from European traders, will to boost tin prices next week on the Kuala Lumpur Tin Market (KLTM).
Dealers expect the metal to trade between US$19,500 and US$19,600 per tonne with Japanese and local traders also contributng to the offtake.
"Demand for tin is still intact and that would be the key driver for the market," said one dealer, adding that developments on the London Metal Exchange (LME) would have a direct impact on the metal's movement on the KLTM.
For the week-just ended, tin price surged US$1,200 to finish at US$19,500 per tonne, from US$18,300 last week.
Weekly turnover increased to 528 tonnes from 505 tonnes previously with Japanese, European and local traders accounting for the transactions.
The premium, based on a formula that includes freight, insurance and other financial costs, widened to US$205 per tonne on Friday against last Friday's US$80 per tonne. -- Bernama
Price of tin hits highest level in two years Financial Times - Javier Blas - Jul 26, 2010 http://www.ft.com/cms/s/0/2d7fbfc2-98e8-11df-9418-00144feab49a.html
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