Malaysian tin price closed unchanged on Friday after base metals in London recovered overnight from a sell-down a day in market leader copper.
Spot tin on the Kuala Lumpur Tin Market (KLTM) stayed at the $6,715 a tonne level it closed at on Thursday.
But turnover fell to 62 tonnes from 78 tonnes. "There's still good demand for Malaysian tin, that's why the price is holding well despite the volatility on the LME," said a trader.
Overnight, tin on the LME, or London Metal Exchange, closed $60 up at $6,660 a tonne.
On the KLTM, Japanese and local buyers mounted initial bids for 62 tonnes, matching sellers' offers at the first strike.
The premium for shipping a tonne of local tin to Europe narrowed to $250 on Friday from $308 a day ago.
Comments
Comments are closed.