Tin price closes lower on mild buying

Tin price on the Kuala Lumpur Tin Market (KLTM) closed lower Wednesday at US$23,440 a tonne, down by US$10 due to mild buying interest, dealers said.

However, on the London Metal Exchange (LME), tin price rose by US$80 to US$23,455 a tonne.

At the opening bell, offers outnumbered bids by 48 tonnes to 26 tonnes.

Turnover was higher at 31 tonnes from yesterday's 24 tonnes, with European, Japanese and local traders dominating trade.