KUALA LUMPUR: The Kuala Lumpur Tin Market (KLTM) closed at a 10-year high of US$30,700 (RM126,560.75) per tonne yesterday, rising by US$450 from US$30,250 per tonne on Tuesday due to stronger demand from buyers, a dealer said.
He said the last time the KLTM had breached the US$33,000 per tonne level was in April 2011.
“The significant price hike was also in line with the metal’s upward momentum on the London Metal Exchange (LME), ” he told Bernama, adding that the tin price rose by US$1,030 to end at US$29,330 per tonne on the LME.
As such, the price difference between the KLTM and the LME narrowed to a premium of US$1,370 per tonne from US$2,050 per tonne on Friday. — Bernama