Malaysia's tin price fell 0.8 percent on Tuesday, giving back the previous day's gains, as the market tracked a drop in the price of the metal in London. Spot tin on the Kuala Lumpur Tin Market (KLTM) ended down $70 at $9,030 a tonne on volume of 125 tonnes. It had risen $60 on Monday on turnover of 190 tonnes.
Dealers noted initial bids for 82 tonnes on Tuesday, against offers for 144. Buyers came from Japan, Europe and Malaysia.
Tin on the London Metal Exchange (LME), which often dictates price direction in Kuala Lumpur, fell $50 to $9,100 a tonne on Monday.
The bigger fall in the KLTM price versus the LME narrowed the premium for shipping a tonne of Malaysian tin to Europe by $20 to $160 a tonne.
On Monday, the premium, which is calculated using freight, insurance and other financial costs, stood at $180 a tonne.
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