LME Physical Storage Capacity, Registered Stocks Continue to Decline

by on

Source: Istock

The London Metal Exchange is seeing volumes fall while Japan and China spar over anti-dumping duties the latter slapped on the former for electrical steel imports.

LME Capacity, Official Storage Both Fall

The number of London Metal Exchange physical storage units continues to decline in tandem with falling registered stocks. As of July 8 there were 608 registered warehouses for the storage of base metals, down from 621 a year ago and from almost 700 in 2012 and 2013. Reuters’ Andy Home has more.

Free Download: The July 2016 MMI Report

Total exchange-registered stocks have fallen to 3.6 million metric tons from over 7.5 million over the same time frame, largely due to the LME’s forced attrition of load-out queues at locations such as Detroit and the Dutch port of Vlissingen.

Japan Condemns Chinese Electrical Steel Tariffs

China’s decision to levy anti-dumping duties on electrical steel products from Japan was unjust and regrettable, the chairman of the Japan Iron and Steel Federation said on Monday.

China’s decision to levy anti-dumping duties on electric steel products from Japan was unjust and regrettable, the chairman of the Japan Iron and Steel Federation said on Monday. “Japan has been explaining that exports of the electric steel products from Japan had caused no injury to local industry, but China has rejected our claims,” Kosei Shindo, the chairman of the Japan Iron and Steel Federation, told a news conference.

Two-Month Trial: Metal Buying Outlook

“Japan has been explaining that exports of the electric steel products from Japan had caused no injury to local industry, but China has rejected our claims,” Kosei Shindo, the chairman of the federation told a news conference.

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.