KUALA LUMPUR: The Kuala Lumpur Tin Market (KLTM) fell by US$50 to close at US$18,700 a tonne yesterday due to an increase in the volume of offerings at the opening, a dealer said.
The traders withdrew when the price went down, he said.
“Today’s price was mainly supported by scattered buying support from the European, Japanese and local traders,” he said.
At the opening, sellers offered 87 tonnes while buyers bidded for 46 tonnes. Turnover inched up to 48 tonnes from 37 tonnes last Friday and the premium between the KLTM and the London Metal Exchange (LME) narrowed to US$250 a tonne from US$300 a tonne.
The London Metal Exchange was closed for Christmas holiday.
Bernama