Kltm to trade higher next week

KUALA LUMPUR, Feb 16 (Bernama) -- Stronger foreign demand is expected on the Kuala Lumpur Tin Market (KLTM) next week as the relationship between the US and China has turned positive on trade matters, said a dealer. The tin price will likely hover between US$21,000 to US$21,150 next week as the market is expected to attract strong bidders. The dealer attributed this to China being one of the biggest consumers for the metal and uncertainty in the region that has affected the market. "The KLTM will also be influenced by the movement of the tin price on the London Metal Exchange (LME)," he told Bernama. Demand on the KLTM for the week just ended came from China, South Korea, Japan, Taiwan, Germany, the United Kingdom, Europe, Pakistan and Bangladesh.  On a Friday-to-Friday basis, the KLTM price was US$60 lower at US$21,030 per tonne, while the weekly turnover increased to 183 tonnes from 92 tonnes last week. Meanwhile, the differential between the LME and KLTM was at a premium of US$125 a tonne versus a premium of US$70 per tonne last Friday. -- BERNAMA