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Tin price closes firmer

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Tin price closes firmer

Post by hlk Mon 29 Aug 2011, 19:24

KUALA LUMPUR: The Kuala Lumpur Tin Market (KLTM) closed firmer at US$23,500 per tonne today, up by US$150 in line with the commodity's better overnight performance on the London Metal Exchange (LME), dealers said.

Tin price on the LME rose by US$460 to US$23,810 per tonne due to short supply in global markets. On the local front, turnover declined to 57 tonnes from 63 tonnes on Friday.

At the opening bell, buyers bid for 65 tonnes, while sellers offered 35 tonnes.

Japanese, Europeans and locals dominated today's trading. The premium between the KLTM and LME dwindled to US$75 per tonne against US$385 tonne on Friday.

The KLTM will be closed tomorrow until Thursday for the Hari Raya and National Day holidays. - BERNAMA

hlk: Moderator; Posts : 19013 Credits : 45112 Reputation : 1120
Join date : 2009-11-14
Location : Malaysia

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