LME looks to adjust rules for faster contract deployment
(S&P) London — The London Metal Exchange is fine-tuning new systems and rules, scheduled to begin toward the end of 2018, that will enable it to launch a wider range of contracts, including new aluminum futures. The LME said Wednesday that, following the technical deployment of „dynamic instrumentation“ towards the end of 2018 — and […]
LME warehouse queues develop after fresh cancellations in July
Warehouse queues emerged at London Metal Exchange-listed sheds in July after a surge in cancellations last month, especially in the exchange’s aluminium inventory, according to LME data. Queues have appeared at C Steinweg’s warehouses in Port Klang, Malaysia, with wait times of 27 days for copper, lead, aluminium and zinc compared with none in June. […]
Proposal to discontinue Chinese selenium dioxide price
Selenium dioxide is mostly used in the electrolytic manganese flake industry in China, but in the past two years consumers have turned increasingly to the overseas market for their cargoes. Consequently, domestically traded volumes in China have dropped significantly. Due to the fall in liquidity of spot-basis selenium dioxide sales, Metal Bulletin considers it appropriate […]
Two workers die at Dubai aluminium furnace
DUBAI, Aug 15 (Reuters) – Two workers died at an industrial furnace in Dubai, reportedly by burning to death, the operator of the plant said on Tuesday. Emirates Global Aluminium said the accident took place on Monday as the men “were working at an industrial furnace, which was shut down for routine maintenance and was […]
LME copper hits 1-yr low as Chile mine union plans to avert strike
BEIJING, Aug 15 (Reuters) – London copper prices dropped to their lowest in more than a year on Wednesday as the dollar strengthened and the union for Chile’s Escondida, the world’s largest copper mine, said it will avert its planned strike after operator BHP offered a renewed contract proposal. The union’s president, Patricio Tapia, told […]
Devisen: Euro und Lira wieder unter Druck
FRANKFURT (dpa-AFX) – Der Euro hat am Mittwoch nach einer zeitweiligen Stabilisierung seit Wochenbeginn wieder unter Druck gestanden. Am Morgen kostete die Gemeinschaftswährung 1,1317 US-Dollar. Damit wurde ein neuer Tiefstand seit gut einem Jahr erreicht. Die Europäische Zentralbank (EZB) hatte den Referenzkurs am Dienstagnachmittag noch auf 1,1406 Dollar festgesetzt. Auch die türkische Lira gab wieder […]
Lira-Krise – wie geht es den Türken damit?
ISTANBUL (dpa-AFX) – Angesichts der Währungskrise in der Türkei verzichten viele Türken auf Anschaffungen. „Unsere Kunden warten ab“, sagte ein Werkzeug-Importeur in Istanbul der Deutschen Presse-Agentur. Der Mann, der namentlich nicht genannt werden wollte, sagte, er mache sich angesichts des Lira-Verfalls große Sorgen um sein Land. „Wir sind nicht glücklich, die Händler sind nicht glücklich […]
EUROPEAN MORNING BRIEF 15/08: SHFE base metals prices continue to slide
Base metals prices on the Shanghai Futures Exchange continued to slide during morning trading on Wednesday, following disappointing Chinese economic data that heightened concerns over slowing growth in the world’s second largest economy. Aluminium premiums in Rotterdam and the US Midwest were higher week on week on Tuesday but the spot main Japanese ports premium […]
Gold prices slip to 18-month low on sturdy dollar
BENGALURU, Aug 15 (Reuters) – Gold prices slipped to their lowest since January 2017 early on Wednesday, pressured as the U.S. dollar clung to its highest in 13 months. FUNDAMENTALS: * Spot gold was down 0.1 percent at $1,192.11 an ounce at 0110 GMT, after hitting its lowest since late January 2017 at $1,190.77. * […]
LME copper slips for 4th day as fears ease over possible strike at Chile mine
BEIJING, Aug 15 (Reuters) – London copper prices extended losses into a fourth session on Wednesday after the union at the mammoth Escondida copper mine in Chile said talks with operator BHP would be extended by a day in the hopes of averting a planned strike. The union on Tuesday said it was closer to […]
