The Kuala Lumpur Tin Market is expected to gain further strength next week, buoyed by continued demand from European buyers

"We expect tin prices to hover within the US$22,000 range next week," a dealer said.

Price fluctuations on the London Metal Exchange, the global tin market trend setter, would continue to influence prices in the domestic tin market, he said.

For the week just-ended, tin prices jumped by US$1,020 to US$21,900 a tonne from US$20,880 a tonne on Friday.

Throughout the trading week, the KLTM staged a steady performance, registering gains on most of the days except on Friday, as buyers unload their positions ahead of the long Chinese New Year holidays.

Total turnover for the trading week rose to 391 tonnes from 355 tonnes last week.

The price differential between the KLTM and the LME stood at US$340 premium Friday compared with US$125 last week.

The KLTM will be closed on Monday and Tuesday for Chinese New Year public holidays and will resume trading on Wednesday. -- Bernama