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TIN PRICES REBOUND ON TECHNICAL CORRECTION

Bernama - Friday, October 10

KUALA LUMPUR, Oct 10 (Bernama) -- Tin price on the Kuala Lumpur Tin Market (KLTM) rose by US$80 to close at US$14,380 a tonne today despite a downtrend on the London Metal Exchange (LME), dealers said.

They said the tin market rebounded today due to a technical correction as the market reacted after a four-day losses.

Tin price on the LME, which normally influenced global prices, dropped by US$125 to settle at US$14,800 a tonne.

On the KLTM, the day's turnover went down to 25 tonnes from 100 tonnes at yesterday's closing, with the participation of Japanese, European and local traders. At the opening bell, buyers made bids for 38 tonnes, while sellers offered 20 tonnes.

The price was given at US$120 per tonne discount. -- BERNAMA

TCT TOM

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