Tin price increases to US$23,900

The Kuala Lumpur Tin Market (KLTM) rose by US$150 to end at US$23,900 a tonne, a dealer said.

The metal price on the London Metal Exchange (LME), however, fell by US$25 to US$23,925, he said.

"The KLTM price was up on correction despite the low LME price. Sellers emerged when the price increases," he told Bernama.

The market was dominated by European, Japanese and local traders.

At the opening bell, buyers bidded for 73 tonnes, while offers were at 23 tonnes.

Turnover increased to 50 tonnes from 41 tonnes on Thursday.

The price differential between the KLTM and the LME widened to US$405 a tonne from US$230 a tonne previously.-- Bernama