S.Korea to wrap up 2009 buys for state metal stocks

SEOUL, Nov 19 (Reuters) - South Korea will tender for at least another 5,000 tonnes of aluminium ingot before the end of this year before wrapping up its purchase programme for 2009, a source at South Korea's Public Procurement Service (PPS) said on Thursday. The PPS, which buys metal for state stockpiles and supplies to small and medium-size enterprises, had been buying regularly through October but stopped purchases in November. "We have been busy organising arrivals after buying almost weekly through late October," said a PPS source who declined to be identified due to the sensitivity of the issue. "We are going to have at least one tender before the end of the year ... seeking 5,000 to 6,000 tonnes of aluminium." In its last tender the agency on Oct. 26 bought 3,000 tonnes of aluminium from LG International at a premium of $119 a tonne over London Metal Exchange cash prices on a cost, insurance and freight basis, and 2,000 tonnes of aluminium from BHP Billiton at a $115 premium, both for Dec. 30 shipment. PPS officials said the agency had secured sufficient supplies of base metals including aluminium, zinc, and copper and it was now working on next year's plans, with a zinc tender likely in January for 1,000 tonnes at most. (Reporting by Shin Jieun; Editing by Jonathan Hopfner)