Bloomberg reported that South Korea bought 2,000 tonnes of copper cathodes at a lower premium than its purchase in January.
The Public Procurement Service, which stockpiles strategic commodities, bought the grade A copper from LS-Nikko Copper Inc at USD 88 per tonne more than the London Metal Exchange official cash settlement price on a cost, insurance and freight basis, a notice on the agency’s website showed today. The LME registered cathode is due for shipment by July 15.
The price compares with the USD 90 per tonne premium over the same benchmark price that the agency paid BHP Billiton Marketing AG for 2,000 tonnes of Chilean copper in January 25 tender.
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