S.Korea buys 4,000 T aluminium, passes 1,000 T

Friday, Sep 25, 2009
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SEOUL, Sept 24 (Reuters) - South Korea bought 4,000 tonnes of aluminium ingot for Nov. 30 shipping via tenders closed on Thursday, the state-run Public Procurement Service said. Of the total, it bought 2,000 tonnes of western-origin primary ingot at a premium of $135 a tonne over London Metal Exchange (LME) cash prices on a cost, insurance and freight (CIF) basis, and the remainder of non-western origin at a premium of $124 a tonne to LME prices CIF, an official at the procurement agency said. Glencore will supply all the cargoes, to be shipped to the port of Busan. But the agency passed on another tender seeking 1,000 tonnes, the official added. (Reporting by Shin Jieun; Editing by Jonathan Hopfner)

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