South Korea’s Public Procurement Service bought 300 tonnes of refined tin for January delivery at its latest tender which closed on 5 December. The purchases of MSC tin were made from LG International at premiums of $425/t for 100 tonnes of 99.9% metal and $375/t for 200 tonnes of 99.85% metal c.i.f Incheon. The premiums are $50/tonne higher than those paid at the previous tender in October.
The PPS is a state organisation providing a purchasing and stockpiling service for small and medium sized enterprises in Korea, and has bought some 2,200 tonnes annually in recent years and holds a stockpile of around 3,000 tonnes. Cumulative purchases in 2014 amount to 1,500 tonnes.
