DJ South Korea PPS Buys 11,000 Tons Aluminum; $108-$118 Premiums

Friday, Apr 24, 2009
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SINGAPORE, Apr 22, 2009 (Dow Jones Commodities News via Comtex) -- South Korea's state Public Procurement Service purchased a total of 11,000 metric tons of aluminum at various tenders Wednesday, said an executive at the PPS Thursday. The PPS purchased 4,000 tons of good western brand aluminum from Daewoo International at a premium of $108 over the prevailing cash London Metal Exchange price on a CIF basis for delivery to Busan by June 30. It purchased 4,000 tons of non-western brand aluminum from Hiho Metal at a premium of $115 over the prevailing cash LME price on a CIF basis for delivery to Busan by June 30. The PPS purchased a further 1,000 tons of non-western brand aluminum from Daewoo International at a premium of $108 over the prevailing cash LME price on a CIF basis for delivery to Busan by June 30. It purchased 2,000 tons of non-western brand aluminum from Gerald Metals at a premium of $118 over the prevailing cash LME price on a CIF basis for delivery to Incheon by June 30. At 0240 GMT, LME three-month aluminum was trading at $1,466/ton, down $2 since Wednesday's kerb.

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