TIN PRICE CLOSES LOWER ON SCATTERED BUYING MAINLY FROM EUROPEAN TRADERS

12 Jul 2013 11:19

KUALA LUMPUR, July 10 (Bernama) -- Tin price on the Kuala Lumpur Tin Market (KLTM) fell US$170 a tonne today to close at US$19,330 a tonne in an easier market, aided by scattered buying mainly from European traders, dealers said.

However, the metal's price on the London Metal Exchange (LME) declined by US$140 a tonne to US$19,310 a tonne.

"The price fall on the KLTM is also in tandem with the metal price on the London Metal Exchange (LME). "There is a lot of buying interest at the opening bell, mainly from European traders, followed by Japanese and local traders, with bids at 17 tonnes, while sellers only offered 35 tonnes, accounting for today's turnover of 22 tonnes," said the dealer.

The premium between the KLTM and the LME narrowed to US$380 a tonne from US$410 a tonne yesterday.

-- BERNAMA

JOAN JOAN TOM