S.Korea says 2010 base metal buys seen at 2009 level

SEOUL, Sept 16 (Reuters) - Base metal stockpiling in 2010 by South Korea, Asia's third-largest metal buyer, will be similar to this year's total purchases, the state-run Public Procurement Service said on Wednesday. In 2009, the agency plans to buy 199,800 tonnes of base metals worth 584 billion won ($482 million), and has bought around 148,650 tonnes in the first eight months of this year. The agency, tasked with building reserve stockpiles of base metals for local small- and medium-sized firms, seeks to boost stockpiles to 60 days worth of supply by 2012 from around 40 days currently. It said earlier on Wednesday that it would overhaul its metal buying programme to have a broader pool of suppliers such as Rio Tinto and Codelco participate in its auctions, a move aimed at raising competition and lowering purchase premiums. Total purchase Already bought in Jan-Aug (T) plan for 2009(T) Aluminium 120,000 93,000 Copper 58,000 44,000 Lead 7,200 4,000 Zinc 11,000 5,500 Tin 1,800 1,350 Nickel 1,800 800 TOTAL 199,800 148,650 (Reporting by Miyoung Kim; Editing by Jonathan Hopfner)