TIN PRICE CLOSES UNCHANGED ON TECHNICAL CORRECTION

16 Jul 2013 07:54

KUALA LUMPUR, July 15 (Bernama) -- Tin price on the Kuala Lumpur Tin Market (KLTM) closed unchanged at US$19,650 a tonne today due to a technical correction at the KLTM against the London Metal Exchange (LME), a dealer said.

He said tin price on the LME increased by US$95 a tonne to close at US$19,550 a tonne after a steep fall of US$120 a tonne to close at US$19,455 a tonne on Friday. A dealer said both buyers and sellers were cautious as they wanted to see how the LME performed today.

At the opening bell on the KLTM, bids and offers matched at 20 tonnes.

Turnover fell to 20 tonnes from 23 tonnes on Friday, with Japanese, European and local traders dominating the day's trading. The premium between the KLTM and the LME narrowed to US$460 a tonne from US$555 a tonne. -- BERNAMA

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