KLTM DOWN US$800 PER TONNE ON LACK OF BUYING INTEREST

12 Jul 2013 11:19

KUALA LUMPUR, July 8 (Bernama) -- The Kuala Lumpur Tin Market (KLTM) fell by US$800 per tonne to close at US$19,150 per tonne on lack of buying support, a dealer said.

He said the sharp fall in the local tin market was also in tandem with the easier sentiment on the London Metal Exchange (LME), which saw the metal's prices decline US$1,170 to US$18,865 per tonne.

"Sellers withdrew when the price fell but some scattered buying helped limit the losses in the local market," he added.

At the opening bell, bids amounted to 10 tonnes against offers of 106 tonnes. European, Japanese and local buyers accounted for the turnover of 40 tonnes, against 33 tonnes recorded last Friday.

The premium between the KLTM and LME widened to US$665 per tonne from US$285 per tonne last Friday. -- BERNAMA

AMY WGM