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...s largest metals exchanges....
...Alexandra Dock in Liverpool is one of the UK’s busiest scrap metal yards....
...Long gold positions held by futures traders on the Shanghai Futures Exchange (SHFE) climbed to 295,233 contracts, equivalent to 295 tonnes of gold....
...The action, announced by the two countries on Friday, marks an aggressive effort by the allies to damage Russia’s income — but could disrupt trading at exchanges including the London Metal Exchange and Chicago...
...The rally has been one of the most ferocious but also mysterious, since most of the demand is coming from China and a sell-off is under way at exchange-traded funds and bullion dealers in western countries...
...Ensuring Tata and British Steel can source the high-quality scrap they need will certainly require a major effort to collect and separate scrap metal more effectively....
...The moves came after the British and US governments on Friday banned the delivery of new Russian supplies to the London Metal Exchange and the Chicago Mercantile Exchange....
...This was a kind of unofficial devaluation of the dollar to protect US-made goods from exchange rate fluctuations....
...The Potanin interview comes just after the US and UK took their biggest step yet to impose sanctions on Russian metals by banning copper, nickel and aluminium from being traded on the London Metal Exchange...
...“You would have to have a meaningful volume [of scrap] before it would get to us — so our suppliers would be further up in the value chain,” said Aurubis’ chief operating officer of its multi-metal business...
...The deal fell through after conditions for its completion “had not been fully satisfied”, including obtaining regulatory approvals, Baidu said in a filing with the Hong Kong stock exchange....
...An index tracking the performance of six industrial metals on the London Metal Exchange has climbed 8 per cent since the start of 2024, outpacing a 6.3 per cent rise for MSCI’s index of worldwide stocks....
...One option is to find cleaner ways to make the steel, including electric arc furnaces to recycle scrap metal and direct reduction facilities....
...Longer term, too, demand is forecast to be roughly flat as increased steel requirements will largely be met by the increased availability of scrap....
...More recent iterations, namely the Chicago Mercantile Exchange and London Metal Exchange, have had their share of snafus....
...As in the aforementioned road movie, Twisted Metal revolves around a journey to Chicago....
...Global mining companies have called for a green premium for sustainably produced nickel traded on the London Metal Exchange, as a flood of allegedly “dirty” supplies from Indonesia squeezes profits for producers...
...Moving to an industry based on recycling isn’t a silver bullet — and as Thomas notes, its success will require additional investment improving the “collection, separation and enhancement of scrap metal”....
..., Fidelity and Charles Stanley Direct), be cautious around the exchange-traded products that give exposure to UK index linkers....
...The London Metal Exchange has won a landmark legal victory against traders who sued over its decision to cancel billions of dollars worth of nickel trades as England’s High Court dismissed claims it acted...
...The UK’s annual haul of scrap steel would cover Hyde Park to a depth of six metres. As more metal reaches the end of its useful life, that will grow....
...And the yellow metal isn’t the most expensive ever. After adjusting for inflation its peak was July 2020, with real prices on a downward path since....
...In other recent scandals, supposed bags of nickel at a London Metal Exchange warehouse were found to be full of rocks, while US trading company Gerald Group bought cargos of tin concentrate in Brazil that...
...Traders said much of the speculative demand had come from China, while exchange traded funds and bulk metal dealers in the west had been selling down their reserves....
...This is because London Metal Exchange warehouses have filled up with Russian aluminium that potentially cannot be offloaded because of sanctions. It makes up 90 per cent of inventories....
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