Vitol seeks to cut costs by withdrawing aluminium from LME warehouses in Malaysia - PRESS AI WORLD
PRESSAI
All categories
Recent Posts
side-post-image
Bishop Mariann Budde's Plea for Mercy Draws Fire from Trump Following Inaugural Prayer Service
user-iconAtlas Winston
side-post-image
India Defeats England by Seven Wickets in First T20: Abhishek Sharma Shines
user-iconGloria Terra
Contact Phone:
Economy

Vitol seeks to cut costs by withdrawing aluminium from LME warehouses in Malaysia

share-iconFriday, January 10 comment-icon1 week ago 5 views
News sources:
reutersREUTERS
Vitol seeks to cut costs by withdrawing aluminium from LME warehouses in Malaysia

Credited from: REUTERS

  • Vitol is focusing on reducing its storage costs by withdrawing large quantities of aluminium from LME warehouses in Port Klang, Malaysia.
  • The current storage fee in LME approved warehouses is approximately 56 U.S. cents per metric ton, significantly higher than alternative storage options.
  • Vitol's decision aligns with its strategy to enhance its footprint in global metals markets after a hiatus ending in 2014.
  • Recent reports indicate that cancelled aluminium warrants at LME in Port Klang surged, with more than 40,000 metric tons attributed to Vitol in one day.
  • The move comes amid heightened attention on aluminium sourcing, particularly as Western markets pivot away from Russian metal post-invasion of Ukraine.

For more details, visit the full article at Reuters.

Gallery

SHARE THIS ARTICLE:

TAGS:

Vitol Aluminium Lme Port klang Storage costs
author-dp

Author:

Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

nav-post-picture
date-iconJanuary 10, 2025 30 Years of Before Sunrise: Richard Linklater's Timeless Exploration of Young Love
date-iconJanuary 10, 2025 L.A. fire chief warns of budget cuts affecting emergency response amid wildfire crisis
nav-post-picture
Related Posts
main-post-image
SPORTS
Madison Keys Advances to Australian Open Semifinals After Defeating Elina Svitolina
date-iconJan 22, 2025
main-post-image
WORLD NEWS
Elina Svitolina Stages Remarkable Comeback to Reach Australian Open Quarterfinals
date-iconJan 20, 2025
main-post-image
WORLD NEWS
Gaël Monfils and Learner Tien Shine at Australian Open 2025, Defying Age and Expectations
date-iconJan 18, 2025
main-post-image
POLITICS
Amanda Palmer Responds to Allegations Against Ex-Husband Neil Gaiman: "Profoundly Disturbed"
date-iconJan 16, 2025
main-post-image
WORLD NEWS
Massive Protests Erupt in Bucharest Over Annulling of Presidential Race
date-iconJan 12, 2025
main-post-image
WORLD NEWS
Record Surge in Carbon Dioxide Levels Ignites Warnings on Climate Crisis
date-iconJan 17, 2025

Stay Connected

main-post-image
World News
Star-Studded FireAid Benefit Concert to Raise Funds for LA Wildfire Relief
date-icon January 17, 2025
main-post-image
World News
Khvicha Kvaratskhelia Undergoes Medical in Paris, Set for Transfer to PSG After Emotional Farewell to Napoli Fans
date-icon January 17, 2025
main-post-image
World News
Bafta Film Awards 2025 Nominations: Conclave and Emilia Pérez Lead the Pack
date-icon January 15, 2025
main-post-image
World News
Manatees Seek Warmth Near Florida Power Plants Amid Polar Vortex
date-icon January 15, 2025

Tags

Stay informed effortlessly with PRESS AI WORLD, the AI-powered news summarizer that delivers concise, easy-to-read global headlines tailored to your interests.

Categories

Recent Posts

side-post-image
Bishop Mariann Budde's Plea for Mercy Draws Fire from Trump Following Inaugural Prayer Service
user-iconAtlas Winston
side-post-image
India Defeats England by Seven Wickets in First T20: Abhishek Sharma Shines
user-iconGloria Terra
© 2025 All rights reserved | PRESS AI WORLD