South Korea Seeks 5,000 Tons of Aluminum, 5,000 Tons of Copper

March 22 -- South Korea's Public Procurement Service, a state-run body that manages strategic commodities, issued a tender to buy 5,000 tons of aluminum and 5,000 tons of copper next week.

Suppliers must submit offers for high grade primary aluminum ingot by 2:30 p.m. Seoul time on March 28 and those for grade A copper cathode by 2 p.m. on March 29, according to a statement by the agency on its Web site. The agency is seeking both metals for London Metal Exchange-registered brands.

Of the total 5,000 tons of aluminum, the agency wants 3,000 tons for any LME brand. For another 2,000 tons, the agency excluded LME brands from Russia, China, Egypt and India.

South Korea, Asia's third-largest economy, imports almost all its minerals and energy. Aluminum, a lightweight metal, is used to make auto parts and beverage cans, while copper is used to make wires and pipes.

Details are as follows:  

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Tonnage     Shipment     Arrival
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-- Aluminum

2,000       May 16       Incheon        All LME brands
1,000       June 20      Incheon        All LME brands
1,000       April 18     Busan     Limited number of LME brands
1,000       May 16       Incheon   Limited number of LME brands

-- Copper

3,000       May 15       Incheon        All LME brands
2,000       May 31       Incheon        All LME brands