KUALA LUMPUR: The Kuala Lumpur Tin Market (KLTM) closed sharply higher yesterday, following strong demand for the metal.
The tin price ended US$320 higher at US$19,870 a tonne.
The dealer said the higher price was also in tandem with gains on the London Metal Exchange (LME) with the tin price rising US$290 at US$19,875 a tonne.
On the KLTM, bids outpaced offers by 77 tonnes to 35 tonnes.
However, the day’s turnover decreased to 30 tonnes from the 39 tonnes recorded previously, with interest coming from Japanese, European and local traders.
The price differential between the KLTM and LME was at a higher premium of US$350 a tonne against US$285 a tonne previously. Bernama