KUALA LUMPUR: The Kuala Lumpur Tin Market (KLTM) closed US$80 higher today at US$19,530 a tonne on a technical correction, dealers said.
A dealer said the upward KLTM price movement coincided with the price on the London Metal Exchange (LME), which closed higher at US$19,550 a tonne, a US$195 improvement.
"Trading today was supported by scattered buying, with support mainly from Japanese traders, followed by European and locals," he told Bernama.
The KLTM was closed on Wednesday due to the Deepavali celebration.
At the opening on the KLTM, bids totalled 49 tonnes against the 35 tonnes offered.
Turnover decreased to 39 tonnes from 42 tonnes on Tuesday, while the premium price differential between the KLTM and the LME narrowed to US$340 a tonne, from US$450 a tonne previously.-- Bernama