Broker AMT has been appointed by the LME as a liquidity provider for its steel contracts, giving a boost to the market as the first ring trader in that role.
LME Mining News
Following LME Week, Mr Benedikt Sobotka, CEO of Eurasian Resources Group (ERG), predicts a strong metals recovery ahead.
Donald Trump didn't make it to LME Week, the annual jamboree of the global metals trading community. But the US president was the hot topic.
The exchange said in March that any launch of a new cobalt contract would not be until the end of 2018 or early 2019.
Chinese cobalt producers such as Jinchuan Group and Wanbao Mining said they were ramping up production to sate an anticipated demand boom from EVs.
Zinc supply has been falling over the last few years as major mines reached the end of their lives and Glencore cut its own output.
The LME will suspend Rusal's aluminium from its list on April 17 after some members raised concerns about settling LME contracts with sanctioned companies.
The London market is only one half of the picture when it comes to tin price signals. The other, very different half is located in Shanghai.
The exchange is instead looking at offering a cash-settled cobalt metal contract.
London Metal Exchange (LME) stocks of aluminium have surged by almost a quarter of a million tonnes over the last five days.
The LME cut fees on short-dated carries in October and on medium-dated carries in November in a bid to revive volumes.
Glencore can't take full credit for bull surge of last 2 years but its curtailments acted as powerful accelerator to structural shift toward supply deficit.
A consultation with users on the fee will start on Nov. 22 and end on Jan. 12 with a view to beginning charges from April 3, the LME said in a statement.
That is worth around $534-$854 million, based on prices of $6,675 per tonne.
Prices for the metal have jumped almost 17% since early May, hitting $2,410 a tonne late July.
The world's biggest and oldest metals market is getting a makeover under new CEO.
The London Metal Exchange has approved Ravenna as the latest point of good delivery for non domestic LME Steel Billet, with effect from September 16th 2011. The addition of the Italian port will enhance the contract’s warehousing network in Europe, encouraging the steel industry to further utilise the contract. LME Steel Billet is now listed in 12 locations in seven countries.
The spot price of copper jumped to $4.40 on December 31, exceeding previous highs set daily over the past week. Today we discuss copper’s meteoric price rise during the past five months, dissect current supply […]