Tin closes higher at US$23,250 a tonne
The tin price on the Kuala Lumpur Tin Market (KLTM) closed US$70 higher at US$23,250 a tonne on strong buying interest, a dealer said.
He said the increase on the KLTM was in tandem with an improvement in the metal price on the London Metal Exchange (LME), where it rose US$25 to close at US$23,225 a tonne.
"Today’s market was quiet and supported by scattered buying from
Japanese, European and local buyers," he added.
At the opening bell, bids stood at 31 tonnes, while sellers offered 10 tonnes.
Turnover fell to 27 tonnes from 30 tonnes on Thursday.
The premium between the KLTM and the LME widened to US$415 a tonne from US$370 a tonne yesterday.-- Bernama