South Korea’s Public Procurement Service (PPS) booked 200 tonnes of standard grade tin but was unable to secure the same quantity of high grade 99.9% metal for delivery at the same time at an acceptable premium, the agency announced on its website.
The PPS bought the 200 tonnes of 99.85% tin for delivery by 9 July at a premium of $340 per tonne over the LME price c.i.f. Incheon from Hanwha Corp. The premium was lower than the $340/tonne recorded at its previous tender for delivery by 2 June. However the agency passed on awarding a contract for 200 tonnes of high grade tin for delivery at the same location and date as it only received one bid. PPS last awarded a contract for high grade tin at a c.i.f. premium of $530/tonne for delivery by the end of May.
