Malaysia tin at $6,630 per tonne, on par with LME

Malaysian tin closed $50 a tonne higher on Friday to be on par with the overnight price in London as Japanese demand for local tin remained strong.
Spot tin on the Kuala Lumpur Tin Market (KLTM) closed at $6,630 a tonne, up from $6,580 a day ago.
Volume rose to 105 tonnes a new high for this year from Thursday's 93 tonnes. Overnight, tin on the London Metal Exchange also closed at $6,630 a tonne, after rising $130.
Japanese interests, who had dominated trade on the KLTM for months now and buying more after a recent surge of the yen, joined local buyers to bid for a total of 105 tonnes. Sellers initially put out 91 tonnes but later raised their offer to 105 tonnes, closing the market at that level.
The parity in the Malaysian price to London brought down the premium for shipping a tonne of local tin to Europe to $195 from Thursday's level of $275.