960402

KL tin drops slightly on initial high offers

KUALA LUMPUR: Malaysia's tin price eased five cents to finish at 15.95 ringgit ($6.30) a kg due to active selling at the opening level despite a higher London market.

"There was a lot of offers at the opening. That's why prices have to come down slightly," a dealer said, expecting prices to hover at around the 16 ringgit level.

Opening offers were at 178 tonnes against bids of 63 tonnes, But final turnover was 108 tonnes against 122 on Monday, with buying from Europe and locally.

The local premium to London narrowed to $20 a tonne against $45 overnight.-Reuter