KUALA LUMPUR: The Kuala Lumpur Tin Market (KLTM) fell by US$300 to close at US$21,550 a tonne today on technical correction, dealers said.
As a result, the premium between the KLTM and the LME widened to US$580 per tonne from US$565 per tonne on Tuesday.
Dealers said the local tin market also moved in line with the downtrend in the metal's price on the London Metal Exchange, which fell by US$150 to US$21,525 a tonne.
On the local front, today's price saw the participation of the Japanese, European and local traders.
At the opening bell, buyers bidded for 15 tonnes, while sellers offered 86 tonnes.
"The market saw an increase in selling volume in early trade but some sellers withdrew when the price fell," a dealer said.
However turnover rose to 35 tonnes from yesterday's 33 tonnes.-- Bernama