Malaysian tin closed flat on Wednesday despite a surge in London prices, as sellers offered higher volumes to buyers made cautious by fluctuations in the London metal market, traders said.
The spot metal ended at $6,200 per tonne unchanged from Tuesday. Volume of 70 tonnes was nearly double that of Monday's 41 tonnes. Japanese buyers took 50 tonnes and European buyers the rest.
Dealers noted initial bids for 70 tonnes against offers of 85 tonnes.
Three-month tin on the London Metal Exchange, which usually guides Malaysian prices, rose $95 to $6,300 on Tuesday.
The premium for shipping a tonne of Malaysian tin to Europe halved to $95 from Tuesday's $190. The premium takes into account freight, insurance and other costs.