PHYSICALS - South Korea's PPS buys 200t of tin at premium of $494/t

Ian Walkerian.walker@fastmarkets.comPhysicals Reporter+44 (0) 20 7337 2145

London 16/03/2016 - South Korea has bought 200 tonnes of tin at a premium of $494 per tonne over London Metal Exchange (LME) cash prices from Daewoo Corp, the country's Public Procurement Service (PPS) said on Wednesday.

PPS, which manages the country's strategic stockpile of commodities, purchased the 99.85 percent purity MSC Malaysian tin for delivery to the port of Incheon on a cost, insurance and freight (CIF) basis and free of tax.

This is lower than the previous tender where PPS bought 100 tonnes of 99.9-percent purity tin of Thai origin (tax-free) at a premium of $580 per tonne.

Spot premiums in South Korean warehouses are currently stable at $75-125 per tonne duty unpaid.

(Edited by Mark Shaw)

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