Tin up amid tight supply
Tin price on the Kuala Lumpur Tin Market (KLTM) closed US$330 higher at US$22,830 a tonne amid tight supply as sellers
remained reserved, a dealer said.
He said the rise in the local tin price was also in tandem with the sharp rise on the London Metal Exchange (LME), the global trendsetter for the metal.
LME tin fell US$515 to US$22,880 a tonne.
At the opening bell, bids stood at 103 tonnes while sellers offered 18 tonnes.
Turnover fell to 28 tonnes from 36 tonnes on Friday with participation noted from Japanese, European and local buyers.
The local market was closed yesterday for the Malaysia Day celebration.
The premium between the KLTM and the LME narrowed to US$340 a tonne from Friday's US$525 a tonne.-- Bernama