KUALA LUMPUR: The Kuala Lumpur Tin Market (KLTM) was down by US$40 yesterday to close at US$19,490 a tonne, in line with the decline in the metal’s price on the London Metal Exchange (LME).
Tin prices on the LME fell by US$125 to US$19,425 a tonne.
“The decline was due to some sellers who withdrew when the price fell,” a dealer said.
He said, however, yesterday’s price was supported by some scattered buying from the European, Japanese and local traders.
At the opening bell, buyers bid for 37 tonnes, while sellers offered 60 tonnes.
Turnover increased to 48 tonnes from 39 tonnes on Thursday while the premium between the KLTM and the LME widened to US$420 per tonne from US$340 per tonne. Bernama