Tin ended down half a percent in Malaysian trade on Wednesday, with European buyers absent after the metal's soft close in London the previous day.
Spot tin on the Kuala Lumpur Tin Market (KLTM) closed at $7,885 a tonne, down $40 from Tuesday. Traded volume fell to 25 tonnes from Tuesday's 85 tonnes. Three-month tin on the London Metal Exchange (LME), which often lends direction to the KLTM, fell $5 to $7,970 a tonne on Tuesday.
In Kuala Lumpur, buyers from Japan and Malaysia sought a total of 20 tonnes at the trade, against the 67 tonnes offered by sellers. At the close, Japanese buyers took 10 tonnes and Malaysians 15 tonnes. Dealers said the premium for shipping a tonne of Malaysian tin to Europe calculated on a cost, insurance and freight basis fell to $110 from Tuesday's $145, after factoring in $35 difference between drop on the KLTM and the LME.