March 08, Issue 6
Welcome to our monthly e-newsletter. If you have any questions, comments or suggestions, please contact news@metalreg.com. Metal Registration Ltd. is proud to sponsor CRU Events' 7th World Copper Conference in Santiago, Chile during CESCO Week, and we look forward to seeing you there.
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In this month’s issue:
· LME - Commences Steel Futures Trading
· DGCX - Signs Memorandum of Understanding with Bursa Malaysia Berhad
· DGCX - Approved as 'Recognised Market Operator' by Monetary Authority of Singapore
· ICCI - Proposed revision of Incoterms
· EU REACH - Pre-registration of phase-in substances starts in 90 Days
· SHFE - Listed Domestic Gold Producer - Amendment
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LME COMMENCES STEEL FUTURES TRADING
The LME 'soft launched' its two regional Steel Billet Contracts on Monday, 25 February 2008 via its electronic platform, SELECT, and inter-office telephone market. The 'hard launch', LME Floor Ring trading, is to commence on Monday, 28 April 2008.
The first prompt date will be on Monday, 28 July 2008. Contracts to be based in US Dollars and trading is available out to 15 months. Daily warehouse stocks reports will be published along with official and unofficial prices, open interest reports from 28 April 2008.
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DGCX SIGN MEMORANDUM OF UNDERSTANDING (MOU) WITH BURSA MALAYSIA BERHAD
The Dubai Gold & Commodities Exchange (DGCX) has signed a MOU with Bursa Malaysia Berhad with a view to developing derivatives markets in Malaysia and the UAE. The MOU provides a base from which both parties can develop their strengths and products covering gold, palm oil, crude oil, plastics and other commodities.
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DGCX RECEIVES APPROVAL BY MONETARY AUTHORITY OF SINGAPORE
The Dubai Gold & Commodities Exchange (DGCX) has received approval from the Monetary Authority of Singapore (MAS) to act as a 'Recognised Market Operator'. This will enable the DGCX to offer Singapore based market participants direct access to its increasing commodity and currency contracts.
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INTERNATIONAL CHAMBER OF COMMERCE (ICCI) - REVISION OF INCOTERMS
The International Chamber of Commerce (ICCI) is in the process of revising its Incoterms 2000.
Initial comment from trade users concerning their use of the current Incoterms as well as any suggestions for improvement is currently underway. SITPRO Ltd. (Simplification of International Trade Procedures) is conducting a short survey which is available for the next two months on the SITPRO website.
To access this please click on the link below:-
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EU REACH REGULATION - PRE-REGISTRATION OF PHASE-IN SUBSTANCES STARTS IN 90 DAYS!
The REACH Information Technology Website (REACH-IT) is to go live in 90 Days. From 1 June 2008, potential registrants can pre-register phase-in substances by either entering information directly using REACH-IT. Alternatively, information can be prepared in advance using either Reach Registration Software - IUCLID 5 (International Uniform Chemical Information Database), or by developing their own company in-house software.
Companies developing their own software for creating pre-registration files and subsequently submitting these files via REACH-IT, need to access the file format specification which can be downloaded from the IUCLID 5 website.
To access the IUCLID 5 website, please click on the following link:-
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SHFE - AMENDMENT - DOMESTIC GOLD PRODUCER
Please note below the amended translation of the SHFE's registered domestic gold producer:-
· LINGBAOJIN - Lingbao Jinyuan Tonghui Refinery Co. Ltd.
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