Higher Premium at Latest Korean Tender (Tin)

Sept. 8 (ITRI) -- South Korea's Public Procurement Service, a state commodities stockpiling agency has bought 100 tonnes of standard grade tin from Hanwha Corp. for delivery by 11 November. The PPS made the purchase at a premium of $800/tonne to the London Metal Exchange tin price on a cost, insurance and freight basis, it reported on its website. At its previous tender, announced on 22 August, the agency bought 300 tonnes from LG International for delivery by 4 November at a c.i.f. premium of $577/tonne. The PPS buys around 2,000 tonnes of tin a year and maintains a stock of metals as a service to small and medium-sized manufacturers .