IN CASE YOU MISSED IT: 5 key stories from October 10

The queue to remove metal from London Metal Exchange-approved warehouses operated by H&M Metal in Busan, South Korea rose to 30 days at the end of September, according to the latest LME data.

New customs declaration procedures could be put in place by European Union member states if the United Kingdom ultimately leaves the bloc with no agreement in place (a “no-deal Brexit”), an industry association told Fastmarkets this week.

The world’s largest low-grade iron ore producer has confirmed that it will bid for two blocks at what is considered the world’s largest untapped high-grade ore resource, a move that reiterates what the industry has been saying over the past few years – that demand for green iron ore or high-grade ore is a structural change in the making.

The connection between physical demand fundamentals and futures price action has broken, say market participants, pointing to nickel stocks on the London Metal Exchange at an 11-year low and the benchmark cash/three-month spread in a backwardation of over $160 per tonne.

Vedanta’s Skorpion zinc refinery will shut for four months from November due to a lack of local concentrate feed, the company told Fastmarkets on October 10.

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