DAILY ROUND-UP – FastMarkets on China copper imports and WWS fine

A daily round-up of the top FastMarkets stories from September 9. 

London Metal Exchange (LME) base metals bar nickel moved lower on Friday as thin volumes indicate that the market hasn’t been quite able to shake off the summer malaise.

Chinese copper imports could rise in September, ending five consecutive months of month-on-month declines, although the increase may only be temporary, market participants said.

Worldwide Warehouse Solutions (WWS) has agreed to pay a fine of 30,000 pounds to the London Metal Exchange (LME) for an erroneous lead stock report issued earlier this year.

Deliverable copper stocks at SHFE warehouses fell 8,688 tonnes or 5.7 percent week-on-week to 143,716 tonnes as of September 9, according to data from the exchange.

The Hong Kong Exchanges and Clearing Limited (HKEX) and China’s Shandong provincial government have a signed a Memorandum of Understanding aimed at supporting and promoting future developments in the commodities and capital markets.

Nevsun Resources has sold and shipped the first zinc concentrate product from its Bisha copper-zinc mine in Eritrea, East Africa.

China’s ex-works producer prices in the non-ferrous metal smelting and fabricating industry grew 0.8 percent year-on-year in August, according to data released by the country’s National Bureau of Statistics on Tuesday.

Will Adams

About Will Adams

William Adams has been involved in the metals markets since 1982 – he has experience in many areas of the market from researching to trading and has worked in London, New York and Tokyo.