AGL 38.99 Decreased By ▼ -0.59 (-1.49%)
AIRLINK 129.80 Decreased By ▼ -1.42 (-1.08%)
BOP 7.15 Increased By ▲ 0.34 (4.99%)
CNERGY 4.63 Decreased By ▼ -0.08 (-1.7%)
DCL 8.45 Increased By ▲ 0.01 (0.12%)
DFML 41.00 Decreased By ▼ -0.47 (-1.13%)
DGKC 81.60 Decreased By ▼ -0.49 (-0.6%)
FCCL 32.64 Decreased By ▼ -0.46 (-1.39%)
FFBL 72.33 Decreased By ▼ -0.54 (-0.74%)
FFL 12.40 Increased By ▲ 0.14 (1.14%)
HUBC 109.90 Decreased By ▼ -0.84 (-0.76%)
HUMNL 14.10 Decreased By ▼ -0.41 (-2.83%)
KEL 5.11 Decreased By ▼ -0.08 (-1.54%)
KOSM 7.63 Increased By ▲ 0.02 (0.26%)
MLCF 38.39 Decreased By ▼ -0.51 (-1.31%)
NBP 70.00 Increased By ▲ 5.99 (9.36%)
OGDC 189.25 Decreased By ▼ -3.57 (-1.85%)
PAEL 25.50 Decreased By ▼ -0.18 (-0.7%)
PIBTL 7.43 Increased By ▲ 0.09 (1.23%)
PPL 150.00 Decreased By ▼ -4.07 (-2.64%)
PRL 25.48 Decreased By ▼ -0.35 (-1.36%)
PTC 17.30 Decreased By ▼ -0.51 (-2.86%)
SEARL 81.05 Decreased By ▼ -1.25 (-1.52%)
TELE 7.62 Decreased By ▼ -0.14 (-1.8%)
TOMCL 33.00 Decreased By ▼ -0.46 (-1.37%)
TPLP 8.34 Decreased By ▼ -0.15 (-1.77%)
TREET 17.04 Increased By ▲ 0.42 (2.53%)
TRG 57.60 Increased By ▲ 0.20 (0.35%)
UNITY 28.15 Increased By ▲ 0.64 (2.33%)
WTL 1.35 Decreased By ▼ -0.02 (-1.46%)
BR100 10,551 Increased By 46.5 (0.44%)
BR30 31,013 Decreased By -213.3 (-0.68%)
KSE100 98,555 Increased By 475.3 (0.48%)
KSE30 30,732 Increased By 173.1 (0.57%)

Malaysian tin rose almost 1 percent on Friday after European buyers monopolised the market, snapping up a limited volume offered by sellers.
Spot metal on the Kuala Lumpur Tin Market (KLTM) climbed $55, or 0.9 percent, to close at $6,415 a tonne on a volume of just 20 tonnes. It fell $100, or 1.5 percent, on Thursday after transactions totalling 65 tonnes.
On Friday's market was helped by a slight firming of the tin price on the London Metal Exchange, KLTM dealers said. Three-month tin on the LME edged up $20 to $6,400 a tonne on Thursday.
The London tin price often lends direction to the KLTM. "The volume of tin offered today was very low because sellers were not keen to dispose at current prices," said a trader in Kuala Lumpur.
"Whatever was available, the Europeans took." Dealer records show the Europeans entering the market, seeking 25 tonnes, against the 10 tonnes initially offered.
Sellers added another 10 tonnes later. Japanese buyers the KLTM's biggest clients and major users of tin for soldering and plating purposes in their electronics and food industries were absent for a second straight day.
The $35 difference between the rises on the KLTM and LME widened accordingly the premium for shipping a tonne of Malaysian tin to Europe.
The premium, which takes into account freight, insurance and other costs, rose to $220 a tonne from Thursday's rate of $185.

Copyright Reuters, 2005

Comments

Comments are closed.