Malaysian tin fell $15 a tonne on Monday as sellers surfaced after waiting in vain for two straight days for a higher price. A drop in the London price of tin also led to weaker demand for the metal in Malaysia, dealers said. Spot tin on the Kuala Lumpur Tin Market closed on Monday at $8,020 a tonne on a trade of 106 tonnes. Between on Wednesday and on Friday, the price was unchanged at $8,035 a tonne. Tin on the LME, or London Metal Exchange, also fell $15 on Friday to settle at $8,010 a tonne. The London market often lends direction to the Malaysian tin price.
Dealers in Kuala Lumpur noted bids for 65 tonnes from Japanese, European and locals, against offers of 106 tonnes. The equal drop in both the London and Kuala Lumpur prices maintained the premium for shipping a tonne of Malaysian tin to Europe at $235, unchanged since on Wednesday.
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