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    388   HK0388045442

HONG KONG EXCHANGES AND CLEARING LIMITED

(388)
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Delayed Hong Kong Stock Exchange  -  10:35:49 2023-01-29 pm EST
370.40 HKD   -0.96%
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No surge of Russian metal into LME warehouses-exchange

11/14/2022 | 01:01pm EST
FILE PHOTO: London Metal Exchange (LME) in London,

LONDON (Reuters) - London Metal Exchange approved warehouses have not seen a surge of Russian metal after unfounded worries that the bulk of consumers would shun the metal, the LME said.

The exchange released new data showing there was no major change in the amounts of Russian metal in LME warehouses last month, supporting its decision announced late on Friday not to ban Russian metal from its system.

Some producers and other market participants had been vocal in calling for bans of Russian metal, saying because many consumers were refusing to buy the material, it would flood into LME storage facilities.

The 145-year-old LME launched a discussion paper on the subject last month, asking for feedback from the market.

From the feedback, it concluded that "for the most part, a material portion of the market is still accepting - even relying on - Russian metal", the LME said in a notice explaining its decision not to ban Russian metal.

The LME, the world's oldest and largest market for industrial metals, also said in January it would start publishing a monthly report on Russian metal in its warehouses.

In Friday's notice, it said the amount of Russian metal in LME warehouses was largely stable from when it launched the discussion paper on Oct. 6 until the feedback period closed on Oct. 28.

A graphic in the notice showed the amount of Russian copper in LME warehouses fell to 58.1% from 63% while the proportion of Russian aluminium rose to 17.7% from 14.9%.

Russian Metal in LME warehouses https://fingfx.thomsonreuters.com/gfx/mkt/znpnbedwmpl/LME%20Russian%20metal%20in%20warehouses%20October%202022.png

(Reporting by Eric Onstad; Editing by Sandra Maler)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
HONG KONG EXCHANGES AND CLEARING LIMITED -1.02% 370.4 Delayed Quote.10.91%
S&P GSCI ALUMINUM INDEX -0.57% 164.9287 Real-time Quote.11.16%
S&P GSCI INDUSTRIAL METALS INDEX -0.30% 486.8494 Real-time Quote.9.23%
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Financials
Sales 2022 18 023 M 2 302 M 2 302 M
Net income 2022 9 768 M 1 248 M 1 248 M
Net cash 2022 106 B 13 565 M 13 565 M
P/E ratio 2022 48,5x
Yield 2022 1,85%
Capitalization 473 B 60 453 M 60 453 M
EV / Sales 2022 20,4x
EV / Sales 2023 17,1x
Nbr of Employees 2 146
Free-Float 94,1%
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Technical analysis trends HONG KONG EXCHANGES AND CLEARING LIMITED
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TrendsBullishBullishNeutral
Income Statement Evolution
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Sell
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Mean consensus BUY
Number of Analysts 26
Last Close Price 374,00 HKD
Average target price 379,35 HKD
Spread / Average Target 1,43%
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Managers and Directors
Alejandro Nicolas Aguzin Chief Executive Officer & Executive Director
Bik Yun Lau Group Chief Financial Officer
May Lung Cha Non-Executive Chairman
Chung Kwong Leung Group Chief Technology Officer
Trevor William Spanner Group Chief Information Officer
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