South Korea’s Public Procurement Service (PPS) bought 200 tonnes of 99.9% Indonesian tin from Daewoo at its latest tender on 23 May, including 100 tonnes at 400ppm lead at a US$480 cif premium to the LME price and 100 tonnes of 100ppm low-lead tin at a premium of US$580.
The purchases represent the first two tenders held by PPS in 2017. PPS is a state organisation providing a purchasing and stockpiling service for small and medium-sized enterprises in Korea, The organisation bought 700 tonnes of refined tin in 2016, well down of typical levels of some 2,000 tpy in previous years.
