Near record high LME prices a magnet for Chinese copper exports
China’s copper producers are planning to export up to 100,000 metric tons of metal, the largest volume in 12 years, aiming to cool a rally that has propelled prices towards record highs and hit their order books, three industry sources said.
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Fortescue iron ore shipments fall short after derailment
Australia’s Fortescue on Wednesday logged a larger-than-expected decline in third-quarter iron ore shipments, following a derailment of ore cars and weather disruptions that also led to a slight cut in its outlook for annual shipments.
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Visit: 83
LME takes aim at traders’ Russian metal games with new rules
The London Metal Exchange is imposing new rules surrounding the movement of metal in its warehousing network, taking aim at a lucrative and complex trading opportunity that emerged after the imposition of sanctions on Russian metal earlier this month.
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LME bans Russian-origin metal after UK, US impose new sanctions
The London Metal Exchange (LME) on Saturday banned from its system Russian metal produced on or after April 13 to comply with new US and UK sanctions imposed for Russia’s invasion of Ukraine.
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Wyloo says industry will turn from LME without green nickel
Nickel miner Wyloo, owned by Australian mining magnate Andrew Forrest, said that if the London Metal Exchange (LME) doesn’t launch a green nickel contract, the industry will have to look for another trading venue.
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LME partner Metalshub plans for ‘green’ nickel price
The London Metal Exchange (LME) does not plan to launch a separate “green” nickel contract because the market is not large enough, but said its partner was developing an index price that will reflect demand for low carbon nickel.
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LME does not plan to launch green nickel contract
The London Metal Exchange (LME) does not plan to launch a “green” futures contract in nickel because the market for such a contract is not yet large enough, it said on Tuesday.
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Visit: 96
Fortescue’s Forrest urges LME to separate ‘clean’ nickel contracts
The London Metal Exchange (LME) should classify its nickel contracts into “clean” and “dirty” ones to give customers more choice, Australian iron ore magnate Andrew Forrest said on Monday.
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Trafigura delivers zinc to LME warehouses for lucrative rent deals
Commodity trader Trafigura has delivered large amounts of zinc to London Metal Exchange warehouses in Singapore under lucrative rent-sharing deals, three sources familiar with the matter said, pushing stocks there back towards November’s 20-year peak.
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Visit: 87
Trafigura delivers zinc to LME warehouses for lucrative rent deals
Commodity trader Trafigura has delivered large amounts of zinc to London Metal Exchange warehouses in Singapore under lucrative rent-sharing deals, three sources familiar with the matter said, pushing stocks there back towards November’s 20-year peak.
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Visit: 113
Pressure groups sue LME for allowing trade of ‘polluting’ Indonesian metal
Two pressure groups have filed a legal action against the London Metal Exchange (LME) for allowing the sale on its platform of metal produced in Indonesia that they allege is polluting local rivers used by indigenous communities, they said on Thursday.
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LME targets Hong Kong as option for warehouse expansion
The London Metal Exchange (LME) is studying Hong Kong as a location to expand its global metal warehouse network, five sources with knowledge of the matter said, hopeful success there might open the door to mainland China, its ultimate target.
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Higher investment risk appetite boosts activity at LME by 11% in 2023
Average daily volumes at the London Metal Exchange (LME), the world’s largest and oldest metals forum, gained 11% to 593,537 lots in 2023 with lead volumes surging by 46%, the exchange said on Thursday.
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Visit: 97
Higher investment risk appetite boosts activity at LME by 11% in 2023
Mining News Pro - Average daily volumes at the London Metal Exchange (LME), the world’s largest and oldest metals forum, gained 11% to 593,537 lots in 2023 with lead volumes surging by 46%, the exchange said on Thursday.
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Visit: 73
Share of Russian aluminum in LME warehouses rises to 90% after UK curbs
Mining News Pro - The share of available aluminum stocks of Russian origin in London Metal Exchange-approved (LME) warehouses rose to 90.4% in December from 78.8% in November, data on the exchange’s website showed on Wednesday.
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Visit: 96
LME faces fresh worries about Russian metal after UK sanctions
Mining News Pro - New UK sanctions on Russian metals have caused confusion among traders and raised fresh worries that the London Metal Exchange could be overwhelmed by a glut of unwanted Russian aluminum.
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Visit: 144
Base metal markets across LME are showing signs of surplus
Mining News Pro - Every major market on the London Metal Exchange is showing signs of ample supply, as slowing economic growth undercuts demand.
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Visit: 134
China’s exports of refined lead feed LME stocks rebuild
Mining News Pro - China’s exports of refined lead hit a 15-month high in September with year-to-date shipments already exceeding last year’s total.
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Funds return to LME nickel with $4.6 billion in short positions
Mining News Pro - Investors are returning to the London nickel market with hefty bets that prices will fall, in a trend could set the stage for a fresh bout of volatility after steep declines this year.
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Visit: 163
LME copper stockpiles rebound to highest in nearly two years
Mining News Pro - Copper inventories on the London Metal Exchange reached the highest level in nearly two years, continuing a rebound that’s taking the strain off buyers after years of chronic supply constraints.
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Visit: 132
LME copper stocks rise to two-year high as demand falters
Mining News Pro - Copper stockpiles immediately available to withdraw from the world’s top metals bourse hit the highest in almost two years, adding to evidence of flagging demand.
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LME’s proposal on coarse nickel powder needs more work on packaging
Mining News Pro - gathered for potential acceptance of coarse nickel powder as a LME nickel deliverable material was broadly supportive but pointed out challenges regarding the packaging.
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Visit: 175
Weak demand sends near-term LME aluminum discount to highest since 2008
Mining News Pro - The discount on aluminum for near-term delivery compared with the three-month contract on the London Metal Exchange (LME) has reached its highest since the global financial crisis of 2008, indicating weak demand and rising supply.
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Nickel set to flood the LME, turning metal squeeze into glut
Mining News Pro - The nickel market is at a “turning point” with a wave of supply of the battery metal about to hit the London Metal Exchange and push down prices, according to strategists at Macquarie Group Ltd.
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Hydro says Russian metal threatens LME benchmark, Rusal hits back
Mining News Pro - The London Metal Exchange should reconsider a decision not to ban Russian aluminum from its warehouse network as large volumes are jeopardizing the benchmark status of its contract, producer Norsk Hydro said in a letter this week.
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