Glencore scoops Korean Ni tender, helped by trade deal

摘要

Glencore International has won another tender for 300 tonnes of nickel by South Korea's Public Procurement Service (PPS) as a duty deal enabled it to beat two lower offers, market participants told MB. Glencore won the tender with an offer of 669 dollars per tonne over the London Metal Exchange cash nickel price for the deal, equating to a price of nearly 18,800 dollars per tonne at February 2's official cash price of 18,100/125 dollars per tonne. Two other companies offered lower prices, with Korean trader Mechem offering at a premium of 540 dollars per tonne and Daewoo offering 330 dollars per tonne.