South Korea’s Public Procurement Service has bought a further 400 tonnes of refined tin at its latest tender, bringing purchases in the year to date to 1,900 tonnes. The agency, which maintains stocks on behalf of small and medium-sized manufacturing companies, bought 300 tonnes of MSC tin from Samji Corporation at a c.i.f. premium of $619/tonne to the LME and 100 tonnes of Thaisarco tin from LG International at a premium of $749/tonne, according to an announcement on its website reported by Reuters.
In July the PPS said it would boost its purchases of tin and copper in order to add to the stocks it holds. ITRI estimates that its current tin stocks amount to a little over 2,000 tonnes, while the medium term target is around 3,500 tonnes.
