Tin price closes higher at US$23,000
Tin price on the Kuala Lumpur Tin Market (KLTM) closed US$100 higher today at US$23,000 a tonne, dealers said.
They said the price surge was also in sync with the increase in the metal's price on the London Metal Exchange (LME) which closed US$100 higher at US$22,950 a tonne.
"Today's tin price was supported by scattered buying mainly from Japan," a dealer said.
On the KLTM, the day's turnover fell to 43 tonnes from 57 tonnes on Monday, with the participation of European, Japanese and local traders.
At the opening bell, buyers bid for 48 tonnes, while sellers offered 25 tonnes.
The price differential between the KLTM and LME widened to US$405 a tonne from yesterday's US$350 a tonne.-- Bernama