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Monday, June 14, 1999
Malaysia tin continues gain on LME
REUTERS
Kuala Lumpur: Malaysia's spot tin rose 13 cents to close at 20.04 ringgit ($5.27) a kg, helped by strong overnight gains on the London Metal Exchange. "The stronger LME attracted some fresh buying here from Europe and Japan," said a trader. He said the price could have been higher if not for the larger offering. Volume increased to 87 tonnes from 49 tonnes on Thursday, with local buyers again dominating trading. "We'll see more sellers coming out at these prices," the trader said. Traders said the performance of the London market would continue to have a large influence on the price direction here, but added that the local market could hold at above 20 ringgit a kg. The local price premium over LME narrowed further to $75 a tonne against $115 previously following a bigger rise in London.Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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