Tin price closes lower at US$22,800 a tonne
Tin price on the Kuala Lumpur Tin Market (KLTM) closed US$50 lower today at US$22,800 a tonne on lack of demand, dealers
The price drop was also in sync with the decrease in the metal's price on the London Metal Exchange (LME) which closed US$20 lower at US$22,805 a tonne, said a dealer.
"Today's tin price was supported by scattered buying mainly from Europe," he said.
On the KLTM, the day's turnover fell to 38 tonnes from 43 tonnes yesterday with the participation of European, Japanese and local traders.
At the opening bell, buyers bid for 38 tonnes, while sellers offered 50 tonnes.
The price differential between the KLTM and LME narrowed to US$385 a tonne from yesterday's US$415 a tonne.-- Bernama