KLTM closes lower at US$22,500 a tonne

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KUALA LUMPUR (June 26): The Kuala Lumpur Tin Market (KLTM) closed US$90 lower at US$22,500 a tonne today following the weaker performance of the metal on the London Metal Exchange (LME), a dealer said. The tin price on the LME slid US$70 to close at US$22,505 a tonne. "On the KLTM, some sellers emerged to offer large quantities, but withdrew when the price reached the same level as that on the LME," the dealer told Bernama. At the opening bell, sellers offered 98 tonnes, while buyers bid for 32tonnes. The premium between the KLTM and the LME narrowed to US$410 a tonne from US$430 a tonne on Wednesday.