KUALA LUMPUR: The Kuala Lumpur Tin Market (KLTM) closed unchanged at US$21,150 a tonne yesterday, even though the metal’s price on the London Metal Exchange (LME) rose by US$100 to US$21,250 a tonne.
A dealer said market participants were cautious about the movement on the LME.
“Today’s market was supported by European scattered buying,” said the dealer.
At the opening, bids totalled 54 tonnes against offers of 51 tonnes.
Turnover increased to 51 tonnes from 45 tonnes on Thursday while the price differential between the KLTM and the LME reduced to US$285 a tonne from Thursday’s US$385 a tonne. Bernama