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☆ Songkran 2024: Celebrating Thailand’s annual New Year festival
▼ + stars: | 2024-04-05 | by ( Karla Cripps | ) edition.cnn.com time to read: +10 min

Bangkok, Thailand CNN —On the surface, Thailand’s annual Songkran festival appears to be just one great big water fight. Pipad Krajaejun, a history lecturer at Bangkok’s Thammasat University, says it’s difficult to pinpoint exactly when the water fights became such a key part of the festival. (We’ll share more on the water fights below.) Some towns limit the water fights to one day, so be sure to check ahead if you’re planning to join the battles. Soe Zeya Tun/ReutersAmong the highlights of the festival is the Maha Songkran Parade, which will happen on April 11.

Persons: Thailand CNN —, that’s, ”, Songkran, Boonserm Satraphai, Pipad, “, Soe Zeya Tun, University’s Pipad, Nam, Chalinee Thirasupa, MBK, Lauren DeCicca, John S Lander, it’s, CNN Travel’s Karla Cripps, she’s Organizations: CNN, Thailand CNN, UNESCO, Heritage, Bangkok’s Thammasat University, CNN Travel, ”, Thailand’s Tourism Authority, of, Reuters, Central Department, Thai Locations: Bangkok, Thailand, it’s, Chiang Mai, Thailand's, Khao San, Chiang, Old City, Pipad, Chiangmai, Thailand’s, Ratchadamnoen, Lanna, San

☆ Malaysia emerges as a hotspot for semiconductor firms amid U.S.-China chip tensions
▼ + stars: | 2024-04-04 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +5 min

American chip giant Intel in December 2021 said it will invest more than $7 billion to build a chip packaging and testing factory in Malaysia, with production expected to begin in 2024. Malaysia holds 13% of the global market for chip packaging, assembly and testing services, said the Malaysian Investment Development Authority in a Feb. 18 report. Exports of semiconductor devices and integrated circuits increased by 0.03% to 387.45 billion Malaysian ringgit ($81.4 billion) in 2023, amid global chip demand weakness. Malaysia Semiconductor Industry Association president Datuk Seri Wong Siew Hai said many Chinese firms diversified some of their production to Malaysia, calling the country China's "plus one." In the same month, the world's largest contract chip maker TSMC opened its first Japan factory as it diversifies away from Taiwan amid U.S.-China tensions.

Persons: Faris Hadziq, Kenddrick Chan, Aik Kean Chong, Intel's, Tan, Yinglan Tan, Datuk Seri Wong Siew Hai, Zafrul Aziz, TSMC, Ann Lim Organizations: Getty, Malaysia, LSE, London School of Economics, Political, Semiconductors, Intel, CNBC, Infineon, Ventures Partners, Malaysian Investment Development Authority, Malaysian, Malaysia Semiconductor Industry, U.S ., U.S, China -, Partnership Locations: KUALA LUMPUR, MALAYSIA, Malaysia, Kuala Lumpur, South, East Asia, China, U.S, American, Penang, Another U.S, Singapore, Europe, Kong, GlobalFoundries Singapore, Klang, India, Japan, Taiwan, South Korea, Washington, Asia, China - U.S

Zinc's relative under-performance is down to a build-up of excess metal as the global market shifts from supply shortfall to widening surplus. It now thinks zinc supply will exceed usage by a hefty 248,000 tonnes with the surplus growing to 367,000 in 2024. Zinc market balance forecasts by the ILZSGSHIFT TO SURPLUSThe zinc market's shift to surplus after two years of supply deficit is down to weaker-than-expected demand and higher-than-expected production. European demand is expected to contract by 1.8% this year due to slowing activity in the construction sector, which accounts for around half of zinc demand in the form of galvanised steel. LME zinc price, stocks and cash-3s spreadNOW YOU SEE IT...

Persons: LME, Barbara Lewis Organizations: Reuters, REUTERS, OZ Minerals, London Metal Exchange, Citi, Thomson Locations: Lawn Hill, Queensland, Europe, China, New Orleans, United States, Singapore, Malaysia's Port Klang

China has stepped up domestic output of refined zinc this year, but the Shanghai market continues to be plagued by low inventory and tight time-spreads. China's imports, exports and net trade in refined zincRETURN TO THE IMPORT MARKETChina was a consistent net importer of refined zinc over the last decade, but that changed in 2022. Shanghai zinc stocks seasonal patterns over 2020-2023LOW INVENTORYShFE registered stocks stand at a modest 43,181 tons. Sentiment, however, holds the real key to the Shanghai premium. The country's trade in refined zinc may prove a useful mirror on that question over the next few months.

Persons: Cash, It's, Jan Harvey Organizations: Share, Shanghai Futures Exchange, London Metal Exchange, Shanghai Metal, Citi, Reuters, Thomson Locations: Eritrea's, Asmara, Eritrea, China, Shanghai, Europe, Turkey, U.S, Antwerp, Singapore, Malaysia's Port Klang, Kaohsiung, Guangdong, London

☆ Column: South Korea's Gwangyang is the new LME aluminium battleground
▼ + stars: | 2023-08-29 | by ( Andy Home | Thomson Reuters | Senior Metals Columnist Who Previously Covered Industrial Metals Markets For Metals Week | ) www.reuters.com time to read: +6 min

LONDON, Aug 29 (Reuters) - The South Korean port of Gwangyang has emerged as the new hub for storing London Metal Exchange (LME) aluminium. Another 54,000 metric tons of aluminium have arrived in the intervening week, promising more turns of the storage carousel. LME aluminium stocks at Gwangyang and Port KlangGWANGYANG GRABS THE SPOTLIGHTA total 198,125 metric tons of aluminium were warranted at LME warehouses in Gwangyang in the first quarter of this year, most of it arriving in four single-day clips. Gwangyang LME aluminium stocks, arrivals and drawdownsRUSSIAN METAL NOW DOMINATESThe competition to store LME aluminium during periods of weak demand is not new. The Gwangyang aluminium storage wars may just be starting.

Persons: Gwangyang, ISTIM, Henry Bath, Sharon Singleton Organizations: London Metal Exchange, Glencore, ISTIM, Pac Global Services, Reuters, Thomson Locations: Gwangyang, Malaysia's Port Klang, Port, Rotterdam, Busan, South Korea, Port Klang, Malaysian, Detroit, Vlissingen, ISTIM

The great destock has resulted in a significantly slimmed-down LME warehouse network. The number of exchange-registered warehouse units has fallen by 151 over the last two years. LME storage space at the latter has grown by 35,000 square metres to 249,000 since the end of September last year. LME warehouse operator Istim has been expanding its presence, listing 24 units over the last year. But it's decidedly good news for LME warehouse operators.

Persons: Goldman Sachs, It's, Kloosterboer, Istim, Jane Merriman Organizations: London, Halley Metals, Pac Global Services, Infinity Logistics, HK, Rotterdam, Reuters, Thomson Locations: Krasnoyarsk, Siberian, Detroit, COVID, Ukraine, Spain, Antwerp, Vlissingen, Rotterdam, KOREA, Singapore, Malaysia's Port Klang, Busan, Incheon, Gwangyang, LME, Port Klang, China, United States, Europe

LME three-month zinc hit a near three-year low of $2,215 per metric ton in May. LME zinc price stocks and spreadsSQUEEZE DRAWS OUT HIDDEN METALThe trigger for the current spate of arrivals in the LME warehouse system appears to have been a sharp contraction in short-dated time-spreads earlier this month. If so, the game is on in Singapore, which has accounted for all the recent arrivals bar 1,000 metric tons at Malaysia's Port Klang. A total 31,500 metric tons of zinc were warranted in the city in July along with 5,125 metric tons of lead and 625 metric tons of tin. In the interim, there is plenty of potential for more metal to head towards LME storage sheds.

Persons: Ilya Naymushin, Kirsten Donovan Organizations: REUTERS, London Metal Exchange, Citibank, Low, Study, Reuters, Thomson Locations: Angara, Novoangars, Russia, Singapore, Malaysia's Port Klang ., East Asia, China, Europe, Ireland

CNN —At least 10 people have died after a charter plane crashed onto an expressway north of Kuala Lumpur on Thursday. “First contact made by the aircraft with Subang Air Traffic Control Tower was at 2.47 p.m. [local time (2.47 a.m. At 2.51 p.m. local time, the “Control Tower observed smoke originating from the crash site but no mayday call was made by the aircraft,” the statement added. Eight people on board the plane were killed in the crash. Vincent Thian/APThe plane crashed into a car and a motorcycle, each carrying one individual, reported state newspaper Berita Harian, citing Selangor Police Head Hussein Omar Khan.

Persons: Sultan Abdul Aziz Shah, Vincent Thian, Harian, Hussein Omar Khan, Tengku Ampuan, ” Khan Organizations: CNN, Langkawi International Airport, Sultan Abdul Aziz Shah Airport, Civil Aviation Authority, Subang Air Traffic, Selangor Police, Tengku Ampuan Rahimah, Ministry, Transport, Malaysian Locations: Kuala Lumpur, Langkawi, Malaysia, Klang

Metal has been arriving almost daily in response to a sharp squeeze across the front part of the LME tin curve. LME and ShFE tin stocksLME SQUEEZE, BUT NO PHYSICAL TIGHTNESSThe tightness on the LME tin contract does not seem to have reflected any shortage of tin in the physical market. The LME squeeze appears to have been more a clash of positioning in what can at times be a relatively illiquid market. Fund positioning on the LME tin contractSUPPLY DISRUPTION LOOMSWhile tin supply has recovered from early-year disruption in Indonesia and Peru, a new threat is now looming. From the start of next month, all tin mining will be suspended in the Wa region of Myanmar.

Persons: It's, Jan Harvey Organizations: London Metal Exchange, Shanghai Futures Exchange, U.S, Fastmarkets, Fund, United Wa State Army, International Tin Association, Yinman, Yunnan Tin Company, Reuters, Thomson Locations: Myanmar, Malaysia's Port Klang, Singapore, Rotterdam, Antwerp, Italian, Genoa, Trieste, Spanish, Bilbao, Baltimore, U.S, Midwest, COVID, Indonesia, Peru, Wa, Guangxi, Mongolia, Yunnan, China

LONDON, June 1 (Reuters) - The London Metal Exchange (LME) is once again looking to shine more light on what lies in the shadows of its warehousing system. The exchange's daily stocks reports offer a rare hard data point in a murky statistical landscape for metal traders. LME stocks are flatlining but is this down to the market or changed market behaviour? Traders will game any system they come up against but the current LME stocks reporting regime makes it too easy. Restoring trust in exchange stocks reporting is a key step in winning back the broader confidence of the market.

Persons: it's, Mark Potter Organizations: London Metal Exchange, Hong Kong Exchanges, HK, Shanghai Futures, Traders, CME, Reuters, Thomson Locations: Malaysia's Port Klang, Singapore, Shanghai

Aluminium will be hardest hit with penal tariffs of 200% on imports of Russian metal, effective March 10, and imports of any third-country product containing Russian metal, effective April 10. This sort of "super contango" is the market's cry for financiers to pick up spare metal, particularly Russian metal. The Gwangyang deliveries are reported to be Russian aluminium being delivered by Glencore (GLEN.L), which has a long-term off-take deal with Rusal. The cash-to-threes time-spread will be a litmus test of financing appetite for Russian aluminium over the coming period. The only get-out for supplier nations is if they too impose minimum 200% tariffs on their own Russian aluminium imports.

☆ Ship sinks between South Korea and Japan; 9 remain unconscious
▼ + stars: | 2023-01-25 | by ( Associated Press | ) www.nbcnews.com time to read: +3 min

South Korean officials said nine of them remain unconscious, but they did not immediately confirm any deaths. They said the crew members would be airlifted to Japan for treatment. AFP - Getty ImagesAccording to South Korean and Japanese officials, 14 crew members are Chinese and eight are from Myanmar. South Korean officials didn’t immediately say whether the nine who were unconscious were likely to survive their injuries if they weren’t already dead. The Japanese coast guard said the water in the area remained rough and its temperature was around 14 degrees Celsius.

Aluminium ingots are seen outside a warehouse that stores London Metal Exchange stocks in Port Klang Free Zone, outside Kuala Lumpur, March 23, 2015. Another source with direct knowledge said that the aluminium delivered to Gwangyang was produced by Rusal. The sources did not say how much of Rusal's aluminium had been delivered by Glencore to LME warehouses in Gwangyang. Glencore and the London Metal Exchange declined to comment. Stocks of aluminium in LME warehouses jumped 65,825 tonnes to 433,025 tonnes on Friday.

☆ Grief and shock over Thailand attack on 'tiny angels' at preschool
▼ + stars: | 2022-10-07 | by ( Dave Lucas | ) www.reuters.com time to read: 1 min

The coffin of a victim is placed in an air-conditioned coffin at Sri Uthai temple in Na Klang district, following a mass shooting in the town of Uthai Sawan in the province of Nong Bua Lam Phu, Thailand October 7, 2022. REUTERS/Athit Perawongmetha

Bangkok, Thailand CNN —Thailand recoiled in horror Thursday after at least 36 people were killed, at least 24 of them children, in a massacre at a child care center in northeastern Thailand believed to be the country’s deadliest incident of its kind. Among the dozens of victims are Panya’s wife and stepson, whom investigators say he killed before taking his own life. “He also used a knife to stab both children and staff at the center,” Paisan said. Police General Damrongsak Kittiprapas said that the attacker “mainly used a knife” to kill the children. TPBS/ReutersMedics arrive at the child care center on Thursday, where more than 30 people, mainly children, were killed.

☆ Criză de manuși de cauciuc pentru că s-au îmbolnăvit de Covid cei care le fabrică
▼ + stars: | 2020-11-25 | by ( ) www.jurnal.md time to read: +2 min

Grupul Top Glove Corp. din Malaezia este cel mai mare producător mondial de mănuşi de cauciuc, iar din cauza numeroaselor cazuri de îmbolnăviri cu Covid-19 în rândul angajaților, compania se vede nevoită să amâne onorarea comenzilor în toată lumea, scrie AP, citată de Agerpres. Top Glove produce aproximativ 90 de miliarde de mănuşi de cauciuc pe an, adică un sfert din oferta mondială, şi exportă în 195 de ţări. Profiturile companiei au crescut semnificativ pe fondul cererii susţinute pentru produsele sale în perioada pandemiei. Pentru a reduce impactul asupra clienţilor noştri, am decis să alocăm comenzi spre uzinele care nu sunt afectate şi să reprogramăm livrările acolo unde este posibil", a informat Top Glove într-un comunicat de presă. În total, Top Glove are aproximativ 21.000 de angajaţi şi gestionează 47 de uzine în Malaezia, Thailanda, China şi Vietnam, dintre care 36 de uzine produc mănuşi de cauciuc.

Persons: Top Glove Organizations: Agerpres, Top Locations: Malaezia, Klang, Kuala Lumpur, Thailanda, China, Vietnam, Europa, America de Nord

☆ Criză de mănuși de cauciuc din cauza că s-au îmbolnăvit de Covi-19 angajații de la fabrică
▼ + stars: | 2020-11-24 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +2 min

Este criză de mănuși de cauciuc la nivel mondial, după ce cel mai mare producător a anunțat că peste 2.000 dintre muncitori s-au infectat cu coronavirus. Livrările vor înregistra întârzieri între două și patru săptămâni, anunță compania care produce mănușile. Profiturile companiei au crescut semnificativ pe fondul cererii susţinute pentru produsele sale în perioada pandemiei. Pentru a reduce impactul asupra clienţilor noştri, am decis să alocăm comenzi spre uzinele care nu sunt afectate şi să reprogramăm livrările acolo unde este posibil", a informat Top Glove într-un comunicat de presă. În total, Top Glove are aproximativ 21.000 de angajaţi şi gestionează 47 de uzine în Malaezia, Thailanda, China şi Vietnam, dintre care 36 de uzine produc mănuşi de cauciuc.

Persons: Top Glove, . Organizations: Agerpres, Top Locations: Malaezia, Klang, Kuala Lumpur, Thailanda, China, Vietnam, Europa, America de Nord

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