KUALA LUMPUR: Tin price on the Kuala Lumpur Tin Market (KLTM) closed at a four-month high of US$22,000 per tonne today after rising sharply by US$800, propped up by low offering and scattered buying by European traders, a dealer said.

He said the metal price on the local market moved up in tandem with the sharp increase on the London Metal Exchange (LME), which was up by US$825 to close at US$22,100 per tonne.

At the opening bell on the KLTM, bids amounted to 101 tonnes, against offers of 26 tonnes.

Turnover increased to 36 tonnes from 35 tonnes on Wednesday, the last trading day before the Hari Raya Aidilfitri break, with European, Japanese and local traders dominating today's trading.

The premium between the KLTM and the LME narrowed to US$265 per tonne from US$290 per tonne last week. -- BERNAMA