Malaysian tin up

25 Apr, 2004

Malaysian tin recouped most of the previous day's losses on Friday as the market tracked overnight gains on the London Metal Exchange (LME).
Spot tin of the Kuala Lumpur Tin Market (KLTM) ended up $230 at $8,970 a tonne. It fell $260 on Thursday.
Traders said a smaller offering aided the rise.
"There was some short-covering on the LME after yesterday's sell off, and this lifted the market," said a trader who expects the local tin price to climb back above the $9,000 a tonne level.
LME tin rose $265 to $8,540 a tonne on Thursday.
On the KLTM, there were initial bids for 105 tonnes against offers for 46 tonnes.
Final volume was 70 tonnes, down from Thursday's 82 tonnes, with Japanese and local buyers again dominating the market.

Read Comments