In Case You Missed It: 5 Key Stories From March 29

Date: Apr 01, 2019

Here are five Fastmarkets MB stories you might have missed on Friday March 29 that are worth another look.A cargo of 30,000 tonnes of Chinese-origin alumina has been sold at 2,810 yuan ($417.10) per tonne fob Yantai port to Glencore in recent days, a source familiar with the matter told Fastmarkets on Friday March 29. The cargo has been loaded and was approaching Yantai port in northeast of China this week with its destination unknown, several sources confirmed.

The London Metal Exchange has announced new warehouse reform proposals – the friendliest to warehousers in seven years – that aim to make LME warehousing attractive again and encourage more metal onto the exchange. In a discussion paper sent to members on Friday March 29, the exchange proposed relaxing queue-based rent capping (QBRC) to 80 days, lower rent and Free On Truck (FOT) fees, as well as measures to allow the market to break evergreen rent deals simply by cancelling metal rather than needing to deliver metal out.

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