Tin closes lower at US$23,500 per tonne
The tin price on the Kuala Lumpur Tin Market (KLTM) closed US$200 lower at US$23,500 per tonne on high offerings against a backdrop of low demand.
The metal also tracked movements on the London Metal Exchange (LME) which eased US$150 to US$23,450 per tonne.
"Buyers were cautious and adopted a wait-and-see attitude at the opening in anticipation of prices coming down further," said a dealer, adding that they emerged at the lower levels.
On the local front, bids stood at 10 tonnes while offers amounted to 51 tonnes.
Turnover rose to 46 tonnes versus yesterday's 27 tonnes with Japanese accounting for the bulk of of today's transaction.
The premium between the KLTM and LME narrowed to US$450 per tonne.-- Bernama