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.
LME Mining News
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 […]