TIN EASES US$280 TO CLOSE AT US$14,420

KUALA LUMPUR, July 3 (Bernama) -- The price of tin on the Kuala Lumpur Tin Market (KLTM) shed US$280 to close at US$14,420 per tonne today, in line with the bearish London Metal Exchange (LME), said dealers.

The LME which usually influences the global tin market, saw the price of the commodity closing US$160 lower at US$14,350 per tonne, after yesterday's sharp rise.

"Buyers made a good bargain as supply is massive," said the dealers.

At the opening level of US$14,700, buyers on the KLTM made bids for 15 tonnes as against sellers of 80 tonnes. The day's turnover slipped to 46 tonnes from 60 tonnes yesterday with Japanese, European and local traders in the market. The price differential between the KLTM and LME also narrowed to US$320 per tonne from US$440 previously. -- BERNAMA MAS AS

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