Tin held at three-week lows in Malaysia on Thursday as key Japanese buyers purchased just enough for the market to close flat after noting a slight rise in the London price, dealers said.
The spot contract on the Kuala Lumpur Tin Market (KLTM) settled unchanged at $6,990 a tonne.
The volume traded was 40 tonnes, compared with 55 tonnes in the previous session. The KLTM fell $30 on Wednesday, slipping below key support at $7,000 for the first time since August 18 after on Tuesday's sharp fall on the London Metal Exchange (LME).
LME three-month tin recovered $20 to close at $6,970 a tonne on Wednesday after losing $100 on Tuesday. "The LME was somewhat steady yesterday," said a KLTM trader, explaining the flat close on the domestic market.
Final turnover was 40 tonnes, with the Japanese taking 25 tonnes and Malaysians the balance. The premium, which takes into account freight, insurance and other costs, fell to $235 a tonne from on Wednesday's rate of $255.
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