LME Announces New Closing Price Methodology for Metal Contracts, Including Aluminium
The London Metal Exchange (LME) revealed on Thursday its plan to adapt its closing price methodology for some of its...
london metal exchange
Glencore Limited Purchases from Rusal, Records Show
Commodities conglomerate Glencore purchased only a fraction of the 6.9 million metric tons of aluminium available under its contract with Russian giant Rusal from 2020-2022, regulatory records reveal. The deal, poised for a possible extension to 2025, has recently come under the...
European Trade Group Pushes Back Against Calls For Banning Russian Aluminium In LME Warehouses
The war of words over Russian aluminium at London Metal Exchange warehouses continued on Friday, as another trade industry group...
Norsk Hydro And Rusal In War Of Words Over Russian Aluminium In LME Warehouses
Norsk Hydro ASA appealed to the London Metal Exchange last week to reverse its decision not to ban Russian-source aluminium,...
Events
Japanese Buyers And Sellers Finally Settle On Third Quarter Aluminium Premium Of US$127.50
A Japanese buyer has taken the plunge into third quarter pricing this week, agreeing to pay a global premium of US$127.50 per metric ton above benchmark for shipments through September. An unnamed source involved in the negotiations said on Tuesday that the agreement had been made, which was below the US$165 to US$180 offers made […]
Russian Aluminium Stocks Swell In LME Warehouses As Traders And Buyers Find Alternative Supplies
Stocks of Indian and Chinese aluminium in London Metal Exchange warehouses plummeted in June due to a rush by traders and consumers to fill the void left by Russian aluminium. The fall off in Russian aluminium stocks in LME warehouses has been profound. In January, Indian-originated aluminium constituted over half of LME aluminium stocks. In […]
LME To Drop Daily Price Limits On Aluminium And Copper Contracts To 12 Percent
On Wednesday, the London Metal Exchange announced that it will be reducing the daily price limits on outright contracts for aluminium and copper from 15 percent to 12 percent beginning on July 24. Aluminium and copper are the LME’s most liquid metals, just ahead of nickel. The Exchange experienced a wide swing in March of […]
LME Pushes Back Deadline For New Electronic Certificates Of Analysis
This week the London Metal Exchange (LME) extended the deadline for mandatory digital registration for quality assurance documents. LME will begin to require Certificates of Analysis (COA) in order to provide transparency regarding the size, shape, purity, and characteristics of a metal unit. The COA is mandatory for almost all physically settled contracts that pass […]
Glencore Declining To Renew US$16 Billion Contract With Rusal
In a move that stunned the aluminium world, Glencore plc announced that it is not renewing its US$16 billion contract with Russian aluminium titan UC Rusal. In an interview with Bloomberg, Glencore’s CEO Gary Nagle said it will complete the contract it has with Rusal, but, under its new policy of shunning business from Russia, […]
Biden Infrastructure Bill A Big Boon To Aluminium Industry: Norsk Hydro VP Mike Stier
Earlier this month the United States Congress passed into law President Joe Biden’s US$1.2 trillion infrastructure package. The Investing in a New Vision for the Environment and Surface Transportation in America Act (or the INVEST in America Act) will allocate US$550 billion ...
The Net-Zero Shift Starts With Low Carbon Aluminium
2020 was supposed to be “year of climate action”, with the Glasgow COP26 acting as a major milestone for both ...
Aluminium at the LME Week – Key Takeaways
Between October 28 and November 1st, London hosted the traditional London Metals Exchange (LME) Week gathering of analysts, brokers, traders ...
Aluminium Market Oversupplied, Demand Growth Flat
Base metals prices reacted positively to the progress registered in the latest round of US – China trade talks in ...
