Korea PPS Buys 2,000 Tons Western Aluminum; $103/Ton Premium To LME-Shanghai Metals Market

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Korea PPS Buys 2,000 Tons Western Aluminum; $103/Ton Premium To LME

Industry News 04:54:24PM Jun 04, 2010 Source:SMM

SINGAPORE, June 4 -- South Korea's Public Procurement Service, a state agency that stockpiles strategic commodities, said Friday that it has purchased 2,000 metric tons of western brand aluminum and 1,000 tons of non-western brand aluminum, both at premiums of $103 a metric ton to the prevailing London Metal Exchange price.

The tenders attracted more interest than the last PPS aluminum tender on May 19, and the premiums were 10% to 12% lower, indicating the aluminum market in Asia is less tight.

PPS purchased the western aluminum from Dong Hyun Metals at $123.57 including 1% duty. There were five other bidders.

It also purchased the non-western brand aluminum from Dong Hyun Metals at $123.57 including the 1% duty. There were three other bidders.

At 0825 GMT, LME three-month aluminum was trading at $1,978/ton, up $23 since Thursday's kerb.


 
 

Key Words:  Aluminum Al  Aluminum price 

Price

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1# Zinc
Apr.22
21890.0
70.0
(0.32%)
0# Zinc
Apr.22
21960.0
70.0
(0.32%)
T/C for domestic zinc concentrate
Apr.01
6350.0
200.0
(3.25%)
T/C for imported zinc concentrate
Apr.01
240.0
5.0
(2.13%)
Zinc Alloy (Zamak3/ZX01)
Apr.19
22790.0
-40.0
(-0.18%)

Korea PPS Buys 2,000 Tons Western Aluminum; $103/Ton Premium To LME

Industry News 04:54:24PM Jun 04, 2010 Source:SMM

SINGAPORE, June 4 -- South Korea's Public Procurement Service, a state agency that stockpiles strategic commodities, said Friday that it has purchased 2,000 metric tons of western brand aluminum and 1,000 tons of non-western brand aluminum, both at premiums of $103 a metric ton to the prevailing London Metal Exchange price.

The tenders attracted more interest than the last PPS aluminum tender on May 19, and the premiums were 10% to 12% lower, indicating the aluminum market in Asia is less tight.

PPS purchased the western aluminum from Dong Hyun Metals at $123.57 including 1% duty. There were five other bidders.

It also purchased the non-western brand aluminum from Dong Hyun Metals at $123.57 including the 1% duty. There were three other bidders.

At 0825 GMT, LME three-month aluminum was trading at $1,978/ton, up $23 since Thursday's kerb.


 
 

Key Words:  Aluminum Al  Aluminum price