960422

Kuala Lumpur tin rises

KUALA LUMPUR: Malaysia's tin price rose three cents to close at 16.08 ringgit ($6.46) a kg after a higher London market attracted some overseas demand.

Traders said there was an opening bid of 187 tonnes against an offer of 122 tonnes. Final volume was 122 tonnes, against Friday's 135, with buying mainly from Europe and Malaysia.

"Sentiment looks firm. And prices are likely to move up if the precious metals in London rally further," a dealer said, adding that prices are seen above 16 ringgit in the near-term.

The local premium to London was up at $65 a tonne against $60 a tonne on Friday, a trader at a major trading firm said.-Reuter