South Korea’s Public Procurement Service (PPS) has issued its first tender this year for refined tin, along with a solicitation of bids to supply nickel and copper. The PPS is seeking 200 tonnes of 99.9% metal for delivery to Incheon port by 7 May. The closing date for bids, including only LME registered brands, is 13 February.
Total planned tin purchases in 2013 are 2,200 tonnes, the same volume as last year. The PPS is gradually building its stocks of tin, by purchasing more metal than it releases to small and medium-sized enterprises each year. By the end of this year it expects to be close to its medium-term target of 75 days’ supply or 3,418 tonnes.