Latest PPS aluminium tender premiums seen as slightly low

South Korea’s Public Procurement Service has awarded two 1,000-tonne tenders for good western and non-good western aluminium at premiums market participants consider to be slightly low against expectations of higher premiums in the second quarter.

A 1,000-tonne tender for good western aluminium - except those from China, India, Russia and Egypt - was awarded to local trader Prowell Resources Corp at $76.20 per tonne for delivery to Busan port on a cif basis by April 13, according to a notice from the state agency on Tuesday February 13. The supplied material will be non-duty free and will be subject to Korea’s aluminium import duty of 1%, which will take the final premium to around $98 per tonne, sources said. Also on Tuesday, the PPS awarded a 1,000-tonne tender for non-good western aluminium to Donghyun Trading, an agent of Gerald Metals, at $104.80 per tonne cif Incheon port by April 13....

Published

Vivian Teo

February 14, 2018

03:10 GMT

Singapore