KUALA LUMPUR, Jan 16 (Bernama) -- The Kuala Lumpur Tin Market (KLTM) ended US$100 higher at US$17,450 per tonne today on strong demand for the commodity amid optimism among traders.
A dealer said the increase in tin price was also in line with the London Metal Exchange (LME), which closed US$65 higher at US$17,500 per tonne.
“Traders’ demand strengthened further, as it is also being fueled by LME, a benchmark for tin," he told Bernama today.
"On the local front, bids stood at 20 tonnes and offers at 20 tonnes, while total turnover remained at 20 tonnes,” he added.
Market participants comprised traders from China, South Korea, Japan, Taiwan, Europe and Hong Kong.
The price differential between the KLTM and the LME was at a discount of US$50 per tonne from a discount of US$85 per tonne on Wednesday.
Tin, KLTM, LME