TIN

THE Kuala Lumpur Tin Market (KLTM) will likely trade higher, ranging between US$26,800 and US$28,000 per tonne on better market sentiment following positive development in the vaccination effort globally.

According to a dealer, optimism over economic recovery would boost demand for the metal, taking cue from the upward momentum of the benchmark the London Metal Exchange (LME).

The shortage of supply would also influence the market to trend higher, he added.

For the week just ended, the price on the KLTM increased to US$27,100 per tonne on Friday from US$26,250 per tonne on Friday a week earlier.

Turnover for this week fell to 89 tonnes from 141 tonnes last week.

Traders were from China, South Korea, Japan, Taiwan, European countries, the US, Pakistan, Bangladesh, as well as local sellers.