Tin closes sharply higher at US$23,180
The Kuala Lumpur Tin Market (KLTM) rose by US$300 to close at US$23,180 per tonne today in tandem with the firmer London
Metal Exchange (LME), dealers said.
The LME tin price improved US$300 to close at US$23,200 per tonne.
"The rise on the KLTM was sharply higher following the LME and sellers were reserved at the opening. However some selling emerged when the price increased," said a dealer.
At the opening bell on the KLTM, bids stood at 45 tonnes against offers of 14 tonnes.
Turnover increased to 30 tonnes from the 20 tonnes yesterday. Today's prices were supported by scattered buying mainly by European followed by Japanese and local traders.
The premium between the KLTM and the LME was unchanged at US$370 per tonne.-- Bernama