London Metal Exchange (LME) warehouses currently hold about 38,000 tonnes but this is concentrated in a few locations. Among LME stocks, some 11,000 tonnes are located in Livorno in Italy and about 24,000 tonnes are in Rotterdam.
Long-term copper treatment and refining charges for 2012 (TC/RCs) have now been generally established at a level of $63.50 a tonne and and 6.35 cents/lb. This level is up 12.4% on the year and was agreed by Aurubis itself in December.
TC/RCs are paid by miners to smelters to refine concentrate into metal and are a key part of the global copper industry's income.
The latest data compiled by Solvent Extractors Association of India stated that the total imports of Vegetable oils (edible & non-edible) during February 2012 is reported at 8.75 lakh tonnes compared to 5.50 lakh tonnes in February 2011, consisting of 8.72 lakh tonnes of edible oils and 0.03 lakh tonnes on non-edible oils i.e. up by 58.95%.
The overall import of vegetable oils during November 2011 to February 2012 is reported at 30.60 lakh tonnes compared to 26.93 lakh tonnes i.e. up by 13.63%.
Australia's housing starts dropped 6.9% in the fourth quarter of 2011, accelerating on a revised 5.8% drop in the third quarter, according to the Australian Bureau of Statistics. New private sector houses dropped 2.7 per cent in the quarter, while new private sector residential units sank 13.9 per cent, seasonally adjusted, the ABS said. For the quarter, residential starts totalled 33,653 nationwide while down 13 per cent from a year earlier.The December quarter decline was the third consecutive quarterly fall and the largest quarterly fall since the September 2010 quarter.
For all of 2011, there were 148,100 dwelling starts, 12.8% fewer than 2010, but an improvement on than the 138,500 tally for 2009. New home starts edged up 0.6% in New South Wales after a 1.6% fall in the previous quarter, on a seasonally adjusted basis. Victoria's decline slowed to a 7.3% fall in the December quarter, from a 14.2% drop in the September quarter.
In Queensland, dwelling starts plunged 17.9 per cent in the quarter, in a sharp turnaround from the September quarter when they rose 9.1%. Western Australia's decline slowed to 3.3 per cent in the December quarter from a 6% drop in the September quarter.
Australia's residential construction sector has struggled through 2011, amid uncertainty about the direction of interest rates and a shift by consumers to pay off debt rather than borrow more.
For all of 2011, there were 148,100 dwelling starts, 12.8% fewer than 2010, but an improvement on than the 138,500 tally for 2009. New home starts edged up 0.6% in New South Wales after a 1.6% fall in the previous quarter, on a seasonally adjusted basis. Victoria's decline slowed to a 7.3% fall in the December quarter, from a 14.2% drop in the September quarter.
In Queensland, dwelling starts plunged 17.9 per cent in the quarter, in a sharp turnaround from the September quarter when they rose 9.1%. Western Australia's decline slowed to 3.3 per cent in the December quarter from a 6% drop in the September quarter.
Australia's residential construction sector has struggled through 2011, amid uncertainty about the direction of interest rates and a shift by consumers to pay off debt rather than borrow more.
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