S.Korea Buys 200 T Tin at Higher Premium

SEOUL, June 30 -- South Korea bought 200 tonnes of tin ingot from local trading firm Daewoo International at a higher premium than a previous deal via a tender, the state-run Public Procurement Service said on Tuesday.

PPS bought the metal of more than 99.9 percent purity, except Russian origin, at a premium of $930 per tonne over London Metal Exchange cash prices on a cost, insurance and freight (CIF) basis, the agency said on its web site (www.g2b.go.kr)

The cargo is to be shipped by Sept. 15 to the port of Incheon.

The procurement agency in March bought 200 tonnes for May 31 arrival at the port of Busan at a premium of $530 a tonne over LME cash prices, CIF.