The US government’s Defense Logistics Agency has issued a solicitation of offers for 4,000 tonnes of tin. Offers for the metal, all stored in a DLA warehouse in Hammond, Indiana, are due in by next Wednesday 28 November. Interested parties are invited to bid for volumes between a minimum of 260 tonnes and the maximum 4,000 tonnes in increments of 20 tonnes, with pricing expressed as a percentage of the monthly average LME price at the time the metal is withdrawn. The contracts will run for six months.
The tonnage offered is just over half of the remaining stock held by the DLA. At the end of September the agency’s uncommitted stock authorized for sale was officially reported at 7,800 tonnes, of which 100 tonnes was released in spot sales in October.
