TIN

THE Kuala Lumpur Tin Market (KLTM) closed US$50 lower at US$18,950 a tonne yesterday, in line with the weaker price of the metal on the London Metal Exchange (LME).

A dealer said LME tin declined US$110 a tonne to US$18,925 a tonne. He said, the tin price on the local front was supported by traders from China, Japan, South Korea, Taiwan, Germany, Pakistan, Bangladesh and the United States.

At close, bids and offers each stood at 24 tonnes, while turnover fell to 24 tonnes from 37 tonnes previously.

The price differential between the KLTM and the LME was at a premium of US$25 a tonne from a discount of US$35 a tonne on Monday.