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Trans-Pacific Container Rates Rise Strongly as Peak Season Starts Earlier
Trans-Pacific container rates to the U.S. West Coast doubled in the week ending June 1, hitting $5,488 per forty-foot equivalent unit (FEU), driven by an early peak season and heavy frontloading activity by shippers. The latest data shows rates above $6,000/FEU, with...
LME Stocks Rise in May as Aluminium and Lead Growth Offsets Copper Slump
Total open stocks in London Metal Exchange (LME) warehouses rose 6.4% in May to 880,419 tonnes from 827,565 tonnes in April. The monthly increase reversed a sharp 24.3% year-on-year decline (1,163,127 tonnes in May 2024), and was driven by a near-doubling of lead...
Copper Spreads in Sharp Backwardation on LME: Pressure from Declining Inventories and Arbitrage Activity
The copper market on the London Metal Exchange (LME) showed a picture of increasing tension on Tuesday 10 June, with spreads in sharp backwardation, driven by a sharp drop in registered inventories and a new wave of warrant cancellations. In just two days, over 16,000...
Base Metals Up On Shfe: Aluminum Leads Rally After US-China Talks
Wednesday, June 11, opened with a bullish trend for almost all base metals traded on the Shanghai Futures Exchange (SHFE), supported by renewed market optimism following the expected trade talks between the United States and China held in London between June 9 and 10....