TIN PRICE TO BE STEADIER NEXT WEEK

KUALA LUMPUR, Jan 29 (Bernama) -- Tin price on the Kuala Lumpur Tin Market (KLTM) is likely to be steadier next week supported by continued foreign buying, dealers said.

They expect Japanese and European buyers to participate actively in the coming week with the price likely to trade above the US$17,800 per tonne level. The local tin market is also expected to continue taking cue from the London Metal Exchange (LME).

The KLTM will be closed on Monday for the Federal Territory Day holiday.

For the week just ended, local tin price slipped US$70 to US$17,800 per tonne from US$17,870 a tonne last Friday while on the LME, the tin price dropped by US$225 to US$17,575 per tonne. The week's turnover rose to 270 tonnes from 185 tonnes last week with activities dominated by Japanese, European and local traders. The price differential between the KLTM and LME widened to a premium of US$550 per tonne compared to US$395 per tonne last week.-- BERNAMA

MAZ SD