Tin price closes lower

Publish date: Mon, 02 Jun 2014, 03:34 PM
KUALA LUMPUR: The Kuala Lumpur Tin Market (KLTM) closed US$195 lower at US$23,205 a tonne today following the decline in the metal's price on the London Metal Exchange (LME), a dealer said.
The tin price on the LME fell US$270 to close at US$23,230 a tonne.
He said the market was very quiet and quite a number of sellers withdrew at the closing.
"Buyers were cautious and took a wait-and-see stand over how the LME would fare in overnight trade today," he told Bernama.
At the opening bell, buyers bid for 10 tonnes, while sellers offered 110 tonnes.
Turnover fell to 40 tonnes from 58 tonnes on Friday, he said.
The dealer said the local tin market was supported by scattered buying, with Japanese, European and local buyers dominating today's trading.
the premium between the KLTM and the LME widened to US$390 a tonne from US$315 a tonne on Friday.-- Bernama
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2014-06-03 11:07

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