The tin price on the Kuala Lumpur Tin Market (KLTM) closed lower by US$100 to US$21,400 per tonne today on profit tacking activity, dealers said.

A dealer said the decline was also in line with the London Metal Exchange (LME), which saw the tin price fall by US$155 to US$21,345 per tonne.

At the opening bell, bids amounted to 20 tonnes while offers stood at 53 tonnes.

Turnover declined to 30 tonnes from the 35 tonnes yesterday with the participation of Japanese, European and local traders.

The price differential between the KLTM and the LME was at a premium of US$395 per tonne from the US$340 per tonne on Tuesday. – BERNAMA