KL tin prices weaken

KL tin prices weaken

KUALA LUMPUR (Reuter): Malaysia's spot tin price fell six
cents to 14.59 ringgit (US$5.26) a kilogram yesterday due to
uncertainties over the ringgit and an overnight fall on the
London Metal Exchange (LME), traders said.

"I think they (the players) decided to sell because the
ringgit strengthened a little this morning, and also the LME was
down on Friday," said a trader.

"But the market is still strong and should go up again if the
ringgit weakens," he said.

At 2 a.m. GMT, the ringgit was at 2.7680 to a dollar in Kuala
Lumpur prior to the opening of the tin market. The currency,
however, slid to 2.7745 by 4 a.m. GMT when the tin market closed.

The closing price was at a premium of $30 against the LME,
compared to a discount of $15 on Friday, traders said.