KUALA LUMPUR: The Kuala Lumpur Tin Market (KLTM) ended US$70 lower yesterday at US$19,080 a tonne on price correction.
“The KLTM price saw a correction in tandem with the trend on the London Metal Exchange (LME), where the metal price fell sharply in overnight trade by US$130 to US$19,050 a tonne.
“However, the price on the KLTM didn’t go down much as it was supported by scattered buying from European and Japanese traders,” he added.
Bids were at only 36 tonnes against offers of 58 tonnes, mainly from local sellers, who withdrew with the price about to drop lower.
Volume dwindled to 43 tonnes from Monday’s 45 tonnes.
The premium between the KLTM and the LME widened to US$380 a tonne from US$320 a tonne previously. Bernama