SHANGHAI, Jun. 24 -- South Korea's Public Procurement Agency has bought 200 tonnes of refined tin from local trading company Hanwha via a tender closed on Wednesday, while passing on another tender to buy 200 tonnes, Reuters reported. The PPA bought standard grade 99.85% tin at a premium to the LME price of $320/tonne cif Incheon for shipment by 15 September.
The premium was slightly lower than that agreed ($340/tonne) at its previous tender. The agency has once again passed on a second tender for 200 tonnes of 99.9% high grade tin, as there was only a single bidder.