KUALA LUMPUR: The Kuala Lumpur Tin Market (KLTM) closed unchanged yesterday at US$21,100 a tonne despite the rise of the metal’s price on the London Metal Exchange (LME).
The LME tin price rose by US$205 to US$21,280 a tonne.
“Local traders remained cautious despite the rise on the LME due to the Malaysia Day holiday today.
“Today’s market was supported by European and Japanese scattered buying,” he said.
At the opening, bids totalled 58 tonnes against the 60 tonnes offered. Turnover increased to 60 tonnes from 58 tonnes on Friday, while the premium price differential between the KLTM and the LME narrowed to US$205 a tonne from US$410 a tonne on Friday. Bernama