Articles Tagged "local traders"

Tin Price Likely To Be Steadier

The price of tin on the Kuala Lumpur Tin Market (KLTM) closed lower on Monday on lack of demand, dealers said. At close, the local tin price was down by US$80 to settle at US$13,650 per tonne from last Friday. The price of tin on the KLTM is likely to be steadier next week though on consistent demand from overseas buyers, dealers said. They said the metal price is likely to trade between US$13,900 per tonne and US$14,200 per tonne with the participation of European, Japanese and local traders.

Production Cutback Pumps Tin Price

Tin prices gained a whopping 18 per cent on the LME in the month of April, despite a huge gain in LME inventories by almost 15 per cent. Global production, however, is expected to fall 6.5 per cent by 21,000 tonnes, to 304,500 tonnes in 2009. According to the International Tin Research Institute demand for tin is expected to fall by 10.5 per cent in 2009 amid the global economic crisis. Hence, the market could be in surplus by 5,000 to 10,000 tonnes in 2009.