Tin ended flat in Malaysian trade on Tuesday on light support from buyers after a higher price for the metal in London.
Spot tin on the Kuala Lumpur Tin Market settled at $7,930 a tonne, unchanged from Monday. The traded volume fell to 20 tonnes, half the level seen in the previous session. Three-month tin on the London Metal Exchange, which often lends direction to the Kuala Lumpur market, rose $25 on Monday to $7,975 a tonne.
"Some buyers were reserved, otherwise there was light support," said a trader, adding that the local price was expected to move in the $7,900-$8,000 range for the rest of the week.
On Tuesday's market, local buyers dominated trade by taking 15 tonnes while the Japanese bought five tonnes.
Dealers said the premium for shipping a tonne of Malaysian tin to Europe, calculated on a cost, insurance and freight (CIF) basis, fell to $150 from Monday's $175.
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