Codelco is committed to being “reasonable” with its 2017 copper premium offer to China and will lower the benchmark to a level that is closer to the spot market, senior commercial vp Rodrigo Toro told Metal Bulletin.

The CME is snapping at the heels of the London Metal Exchange in the copper market, with the gap in trading volumes between the two exchanges narrowing this year.

Anglo American plans to continue to exercise discipline in its asset disposal programme and remains in negotiations for further sales, the company’s ceo said.

Privately-owned commodities trading firm Levmet has opened a new London office to help facilitate its growing trading activities.

The London Metal Exchange is partnering with Henry Bath for the launch of a pilot programme for LMEshield in China, the exchange said.

The London Metal Exchange is continuing to review incentive schemes put in place as part of its Liquidity Roadmap, designed to increase electronic trade on the LME. But criticism the schemes have failed is unfounded, LME ceo Garry Jones argued.

As LME Week gets under way, Metal Bulletin presents a fictional tale set in the metals trading industry by Geoffrey Sambrook. Chapters II-VII will be published this week.

Copper cathode exports from China have reached historical highs in 2016, powered by the government’s decision almost eight years ago to resume issuing copper concentrate tolling licences and thus facilitate the import of raw material and the export of metal.

The London Metal Exchange, the world’s largest non-ferrous metals market, marked its 139th year of existence by moving to a new headquarters in February, although the relocation did not take place without a major hiccup in the summer.

The London Metal Exchange moved to new premises earlier this year, cutting the ribbon on its fourth bespoke trading floor. But with ring-dealing member (RDM) numbers unchanged at nine from this time last year, the new mini-sized ring represents something of a downsize.