Tin market closes at 10-year high


“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. (File pic shows MMC tin ingots)

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

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

tin , price , 10-year-high , LME , KLTM ,

   

Next In Business News

MUI Group's PMC to buy 51% stake in A&W Malaysia
Yinson reports third straight quarterly earnings growth
KPower posts RM37.4mil net profit in FY21, despite Covid-19 setbacks
FBM KLCI broadly higher on bargain-hunting activities
BNM's international reserves at US$116.2bil as at Sept 15
China stocks end higher, Evergrande's assurances lift real estate firms
Maybank, UOB to jointly underwrite RM2bil Islamic facility for Malayan cement
DFIs provide micro-SMEs with financing totalling RM8.1bil
Oil prices rise on tight supply, renewed risk appetite
Citi Malaysia bags multiple banking awards

Stories You'll Enjoy


Vouchers