A daily round-up of the top FastMarkets storeis from September 23.
Base metals on the London Metals Exchange ended the week with a whimper - some pre-weekend profit-taking zapped some strength out of the earlier rally.
Thomas Tumoscheit, a trader of non-ferrous metals at US commodity trader Gerald, has left the company, industry sources said on Friday.
Interest in base metal futures among investors is likely to remain low in the next year or so because their appeal has waned due to a slowdown in the Chinese economy, Bonnie Liu, CEO of GF Futures (Hong Kong) Co, said.
Large deliveries of lead are set to be made to listed LME warehouses in Europe and Asia sheds next week while large-scale warranting and rewarranting takes place in these regions – believed to be orchestrated by Trafigura.
China’s nickel ore and concentrate imports rose 11.2 percent year-on-year and 30.1 percent month-on-month to 4.28 million tonnes in August, according to latest data from Chinese customs.
Deliverable copper stocks at SHFE warehouses fell 5,549 tonnes or 4.1 percent from last Wednesday to 130,780 tonnes as of September 23, according to data from the exchange.
China’s import of refined zinc fell 25 percent year-on-year to 25,305 tonnes in August, according to latest data from the Chinese customs.
Hong Kong-listed Chinese aluminium extrude Xingfa Aluminium announced on Friday that its largest shareholder Guangxin Aluminium – owned by China’s Guangdong provincial government – and a few top shareholders have proposed privatising the firm.