Bernama reported that tin price on the Kuala Lumpur Tin Market closed USD 50 lower at USD 22,800 per tonne on lack of demand.

Dealers said that the price drop was also in sync with the decrease in the metal's price on the London Metal Exchange which closed USD 20 lower at USD 22,805 per tonne. Today's tin price was supported by scattered buying mainly from Europe.

On the KLTM, the day's turnover fell to 38 tonnes from 43 tonnes yesterday with the participation of European, Japanese and local traders.

At the opening bell buyers bid for 38 tonnes, while sellers offered 50 tonnes.

The price differential between the KLTM and LME narrowed to USD 385 per tonne from yesterday's USD 415 per tonne.