First RIBS trade done on LME fob China HRC contract

The first trade arranged by a registered intermediate broker (RIB) was completed on the London Metal Exchange's fob China hot-rolled coil (HRC) Argus contract today.

The 1,000 t/month trade was done through Henry Herbert at GFI, and was a spread trade for January-February, with the former at $450/t and latter at $445/t.

The fob China contract also set a new daily trading record of 1,567 lots (15,670 tonnes) at the end of November, which was the second best month in outright volume terms since its launch in March.

Fob China HRC prices were strong throughout November, with Argus' index rising from $427/t at the beginning of the month to $460/t fob. Prices were so strong that China actually imported coil, and other products, from bulk exporters, including India, Taiwan and the CIS.

Exporters booked fixed price at low levels earlier in the month, before watching the market surge.

News No: 7692
Date: 2019/12/02 - 18:15
News Source: Argus Media

trade  China  HRC  RIB  London Metal Exchange 


Leave a Comment:


Less than 20% progress posted for 69% of underway industrial, mining projects

The latest data published by the Iranian Industry, Mining and Trade Ministry show that 69 percent of the semi-finished industrial, mining, or trade projects across the country reported less than 20 percent of physical progress by the end of the previous Iranian calendar year (March 19).

Over 72,000 industrial, mining units operating across Iran

Latest Data released by the Iranian Industry, Mining and Trade Ministry shows that 72,250 industrial and mining units are operating across the country in which nearly 2.43 million people are working, ISNA reported.

Establishing 8 new FTZs across Iran on agenda

Secretary of Iranian Free Zones High Council Morteza Bank said on Saturday that eight new free trade zones (FTZ) are going to be established across the country, ILNA reported.

$41b of annual non-oil exports atop agenda: industry min.

Iran’s Acting Industry, Mining, and Trade Minister Hossein Modares Khiabani said the ministry has it on the agenda to export $41 billion worth of non-oil commodities in the current Iranian calendar year (March 2020-March 2021).

Industry, mining, trade projects worth over $5.4b inaugurated in 2 months

Some 196 industrial, mining and trade projects worth 230 trillion rials (about $5.48b) went operational throughout the country since the beginning of the current Iranian calendar year (March 20) up to June 16.

Offering of shares through 2nd ETF to start this month

Iran’s deputy finance and economic affairs minister said that offering of shares through the country’s second exchange-traded fund (ETF) will be started during the current Iranian calendar month (June 21-July 21).
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners