The London Metal Exchange’s linked load-in/load-out (LILO) warehouse rule thus far has not been activated at Istim’s warehouses in Port Klang, Malaysia, despite a large aluminium queue building at the warehouse, sources confirmed to Fastmarkets MB.
Section 232 tariffs on aluminium and steel raised $3.6 billion in their first nine months, and revenue for the last two months are likely to push that figure up by around another $1 billion, United States government data shows.
CME Group will expand its global aluminium footprint outside of the United States, with seven warehouses across Asia and Europe recently approved for storage of the metal, CME Group said.
Nornickel has won the right to take its dispute with Botswana's state-owned mining enterprise BCL Group to the London Court of International Arbitration.
Fires occurred at two operations this past week. Miner Vale announced on Friday February 15 that a fire caused damage to its iron ore distribution center in Malaysia. A fire also broke out at Korea Zinc’s Onsan smelter, but that has been contained and deliveries were set to continue as usual, two sources at that company told Fastmarkets.
Here are five Fastmarkets MB stories you might have missed on Friday February 15 that are worth another look.