China’s exports of refined lead feed LME stocks rebuild

  • 📰 mining
  • ⏱ Reading Time:
  • 60 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 53%

مصر أخبار أخبار

مصر أحدث الأخبار,مصر عناوين

No 1 source of global mining news and opinion

China’s exports of refined lead hit a 15-month high in September with year-to-date shipments already exceeding last year’s total.

However, the transfer of surplus metal from east to west is preventing a rebuild of stocks in Shanghai, where the lead market is also still gripped by tightness.China exported 35,400 metric tons of refined lead in September, which was the highest monthly tally since June of last year. Much of that physical tightness has since abated, particularly in Europe where the Stolberg smelter in Germany restarted in April after two years of flood repairs.The top two destinations for Chinese lead last month were Taiwan and South Korea to the tune of 16,400 and 12,800 metric tons respectively.The relocation of stocks from China to the West has seen LME stocks rebuild from their depleted year-start levels.

Over half of LME stocks were either Chinese or Taiwanese metal at the end of last month, compared with under a third at the start of the year. The cost of rolling a short position overnight, the LME’s “tom-next” spread, traded as wide as $10 per metric ton on both Monday and Tuesday, attesting to the pressure on the cash date.

Clearly there is something of a long-short battle playing out in the London lead market, where the outright price has been under pressure.

لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر:

 /  🏆 449. in EG
 

شكرًا لك على تعليقك. سيتم نشر تعليقك بعد مراجعته.

مصر أحدث الأخبار, مصر عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Stock Market News Today: Dow, Nasdaq Slip; Alphabet Stock Price FallsLive updates on what's moving markets, including stocks the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite
مصدر: WSJ - 🏆 98. / 63 اقرأ أكثر »

Stock Market News Today: Nasdaq Falls 300 Points; Alphabet Stock Price Falls After EarningsLive updates on what's moving markets, including stocks the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite
مصدر: WSJ - 🏆 98. / 63 اقرأ أكثر »

Stock Market News Today: Dow Opens Higher, Meta Stock Price Falls; Amazon Earnings in FocusLive updates on what's moving markets, including the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite.
مصدر: WSJ - 🏆 98. / 63 اقرأ أكثر »