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Top related persons:
Gwangyang - 1 ISTIM - 1 Henry Bath - 1 Sharon Singleton - 1 Goldman Sachs - 1 It's - 1 Kloosterboer - 1 Istim - 1
Top related locs:
Gwangyang Malaysia's Port Klang Rotterdam Busan Port Klang Detroit Vlissingen Port
Top related orgs:
Pac Global Services - 2 Thomson - 2 London Metal Exchange - 1 Glencore - 1 ISTIM - 1 London - 1 Halley Metals - 1 Infinity Logistics - 1

Search resuls for: "ISTIM"


3 mentions found


☆ 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
☆ Column: LME warehousers bet the great metals destock is over
  + stars: | 2023-08-24 | by ( Andy Home | Thomson Reuters | Senior Metals Columnist Who Previously Covered Industrial Metals Markets For Metals Week | ) www.reuters.com   time to read: +7 min
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
☆ Column: United States targets Russian aluminium and other metals
  + stars: | 2023-02-28 | by ( Andy Home | Thomson Reuters | Senior Metals Columnist Who Previously Covered Industrial Metals Markets For Metals Week | ) www.reuters.com   time to read: +7 min
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.
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