South Korea has bought 4,000 tonnes of aluminium ingots at premiums of $224-249 per tonne on a cost, freight and insurance (CIF) basis, the state-run Public Procurement Service (PPS) said.
PPS, which manages South Korea’s strategic commodities, bought 2,000 tonnes of LME Indian-origin ingots from Glencore International at a $224 premium over the LME cash price for delivery at the port of Busan, PPS said on Wednesday.
It also bought 2,000 tonnes of Western-branded ingots from LG International at a $247 premium for delivery at the Incheon port.
The previous PPS tenders for aluminium ingots went for premiums of $224 and $249 in October.
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