KUALA LUMPUR: The Kuala Lumpur Tin Market (KLTM) closed US$100 higher at US$20,250 a tonne yesterday, following the metal’s price increase on the London Metal Exchange (LME).
The tin price on the LME increased US$30 to US$20,305 a tonne.
On the local front, a dealer said yesterday’s price was supported by scattered buying from European traders, followed by Japanese and local buyers.
“However, some buyers withdrew when the price rose too high,” he added.
At the opening, sellers offered 40 tonnes while buyers bid for 80 tonnes.
The price differential between the KLTM and LME was at a premium of US$300 a tonne from US$230 a tonne previously.
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