Transnet Freight Rail News Briefs Page 1 of 9

COMMODITY NEWSBRIEFS: 24 MARCH 2014 Please note that these articles are available in electronic format and can be requested and delivered via e-Mail.

(http://intra.spoornet.co.za) Natasha.Havenga@transnet.net

DISCLAIMER

The information contained in this publication is for general information purposes only. The information is provided by Transnet Freight Rail, a division of Transnet Limited, and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the publication, or the information, products, services, or related graphics contained in the publication for any purpose. Any reliance you place on such information is therefore strictly at your own risk. In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of profits arising out of, or in connection with, the use of this publication. This publication may refer to other publications which are not under the control of Transnet Freight Rail. We have no control over the nature, content and availability of those other publications. The inclusion of any other publications or other website links does not imply a recommendation or endorse the views expressed within them. Every effort is made to keep the content of the publication correct and complete. However, Transnet Freight Rail takes no responsibility for, and will not be liable for information in the publication being incorrect or incomplete. Transnet Freight Rail also does not guarantee the availability of the publication at any specific intervals INTERMODAL SOUTH AFRICA FALLS IN 2014 GLOBAL LOGISTICS RANKINGS (Engineering News, 24/3/2014) South Africa has been ranked number 34 out of 160 countries in the World Bank’s 2014 Logistics Performance Index (LPI), which is topped by Germany, with Somalia ranked lowest. Africa’s largest economy remained the continent’s highest placed LPI participant, but South Africa’s position was well off its 2012 ranking of 23 and its position of 28 in 2010. In February, the World Bank argued in a separate report on South Africa that the country’s high logistics costs and price distortions were an impediment to export competitiveness. That report noted, for instance, that South Africa’s port tariffs on containers were 360% above the global average in 2012, while on bulk commodities they were 19% to 43% below the global average. Similar commodity biases existed in the area of rail freight. But the new report, titled ‘Connecting to Compete 2014: Trade Logistics in the Global Economy’, still clustered South Africa as an “over-performing non-high-income” economy along with Malaysia (25), China (28), Thailand (35), Vietnam (48) and India (54). The report draws on data arising from a survey of more than 1 000 logistics professionals and bases its LPI rankings on a number of trade dimensions, such as customs performance, infrastructure quality, and timeliness of shipments. Besides China, South Arica also performed above its ‘Brics’ counterparts of Brazil (65), Russia (90) and India. However, senior transport economist and founder of the LPI project Jean-François Arvis stresses that a country cannot improve through developing infrastructure, while failing to address border management and other supply-chain issues. Logistics performance is strongly associated with the reliability of supply chains and the predictability of service delivery for producers and exporters, the report notes, adding that supply chains are only as strong as their weakest links. They are also becoming more and more complex, often spanning many countries while remaining critical to national competitiveness. STEEL SA OUTPERFORMS GLOBAL STEEL OUTPUT IN FEB (Engineering News, 24/3/2014) Global crude steel production for the 65 countries reporting to worldsteel remained relatively flat in February, increasing by a marginal 0.6% year-on-year to 125-million tonnes. South Africa, however, increased its crude steel output year-on-year by an impressive 19.3% to an estimated 555 000 t from 465 000 t in January 2013. China’s crude steel production for the month was estimated at 62.1-million tonnes, while, elsewhere in Asia, Japan increased its year-on-year output by 1.4% to 8.4-million tonnes and South Korea’s crude steel production rallied by 6.2% to 5.3-million tonnes. In the European Union, Germany produced 3.6-million tonnes of crude steel in February, an increase of 4.2% on the prior year’s comparable month,

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while Italy lifted its production by 3.6% to 2.2-million tonnes over the same period. Meanwhile, the US produced 6.7-million tonnes of steel in February, down by 1.7% on the prior year’s comparable period, while Brazil’s output increased over the same period by 1.2% to 2.6-million tonnes. The crude steel capacity utilisation ratio for the 65 countries in February was 77.6% – 2 percentage points lower than that of February 2013. FUEL E-TOLLS TO HIT ALREADY HIGH PETROL PRICE (News24, 24/3/2014) The easing rand pressure on the petrol price may be short-lived as the effect of e-tolls on fuel prices filter through, industry body Sapia has warned. According to SA Petroleum Industry Association's (Sapia's) executive director, Avhapfani Tshifularo, e-tolls were not included in fuel transport costs, a component of the total retail price of petrol. “The petrol retail price is regulated by the minister of energy. The department of energy is in the process of reviewing fuel primary transport costs, also called magisterial district zone differentials, and e-tolls will have to form part of this review as it is a real cost to industry,” he told City Press. Sapia, which represents the collective interests of oil giants including BP, Sasol, Shell, Chevron and Engen, said the industry is currently bearing the extra cost of transporting fuel to and within Gauteng while government completes its study, which could take six months. “We have no choice as the system currently does not allow the recovery of tolling fees,” Tshifularo said. The weak rand, high average international prices for fuel and rising oil refinery prices have pushed the price of petrol to record highest levels. And the new general fuel levy- the 12c increase announced by Finance Minister Pravin Gordhan in last month’s budget speech - will heap more pressure on cash-strapped motorists when it kicks in on April 2. Automobile Association data show the retail price of petrol in Gauteng is now between R13.91 and R14.32 for all grades of the fuel, a far cry from the R5.82 to R6.01 range observed in January 2009. COAL NO CURRENT NEED FOR SEPARATE JUNIOR COAL TERMINAL – TNPA (Engineering News, 24/3/2014) The Transnet National Ports Authority (TNPA) would not be building a separate coal terminal in Richards Bay to service junior miners at this time, but would rather look at expanding and refurbishing the Transnet Dry Bulk Terminal (DBT), in Richards Bay, TNPA chief planner Nimi Ramchand said on Thursday. Transnet first indicated in October last year that it was considering building another coal terminal adjacent to the Richards Bay Coal Terminal (RBCT) to serve juniors, when Transnet group CEO Brian Molefe said too few emerging coal juniors were being allowed to put their coal through RBCT into global markets. However, Ramchand, speaking at the Heavy Haul Rail Africa 2014 conference, in Sandton, said Transnet had researched the possibility of building an additional terminal, but found that “the demand for port facilities for coal was actually a bit overstated”. Also, TNPA already had the DBT, which also handled coal and had capacity for expansion to increase the volumes of coal handled in future, she said. “We still have capacity for coal [at the DBT] and, therefore, there isn’t a need at the moment to invest in a dedicated coal facility, other than [the] expansions and refurbishments at the current DBT,” she stated. Ramchand added that the expansions at the DBT were already being planned and TNPA was about three or four months away from making an investment decision. GRAIN SA WHEAT ADVANCES TO SIX-YEAR HIGH (Business Report, 24/3/2014) Wheat increased 1.3 percent to R4,155 a metric ton, the highest settlement price since March 28, 2008, by the midday close on the South African Futures Exchange in Johannesburg. Wheat reached $7.185 yesterday on the Chicago Board of Trade, the highest since May 13; futures rose 19 percent in March. "The US winter wheat crop which was planted last year October and is now coming out of dormancy, is experiencing dry conditions coupled with extreme cold spells," Brink van Wyk, a trader at Pretoria-based BVG, said in an e-mailed response to questions. "It is not in good shape." While South Africa is sub-Saharan Africa's largest grower of the grain after Ethiopia, it's still a net importer of wheat, according to the US Department of Agriculture. The nation's rand weakened to the lowest in more than a week and traded at 10.9429 to the dollar at 2:13pm in Johannesburg. "The rand weakened sharply overnight, pushing up prices even more," Van Wyk said. "As South Africa is a net importer of wheat, we have no choice but to follow the international price." White corn gained 1.2 percent to 2,136 rand a ton, while the yellow variety rose 1.2 percent to 2,222 rand a ton.

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TRANSNET QUESTIONS OVER R50BN TRANSNET TENDER (News24, 24/3/2014) At least one of the shareholders was amazed to discover, through the media, that he had a share in the R50bn tender, Rapport reported on Sunday. Among the local partners in Transnet’s massive new tender for locomotives are the stationer, the cleaning contractor and the shuttle service provider used by one of the train manufacturers. Another manufacturer has included a 23-year-old motivational speaker in its otherwise secretive consortium. A partner of another tender winner is run by two former Transnet managers who seemingly created their company after the tender process closed. No one can accuse Transnet of empowering only the “usual suspects” with the massive four-way contract for 1  064 new locomotives that was announced last Monday. The DA on Friday indicated that it would ask Transnet to explain the tender process, while the Public Protector is already investigating one of the four successful bidders. Jabatha Paper and Stationery  –  a shareholder in multinational train maker Bombardier’s local subsidiary  –  was unaware of its apparent role in the contract, of which Bombardier Transport SA gets a R10.4bn share for 240 electric locomotives. Azon Rail, one of the local partners of another successful bidder, China North Rail (CNR), has two directors who were both, until recently, managers at Transnet. It is unclear when Babalwa Dludlu and Zahra Pilane left Transnet, but company records show that Azon was registered in April last year. This was well after the bids for the locomotive tender were submitted to Transnet late in 2012. According to her LinkedIn profile, Pilane was a senior manager at Transnet Freight Rail until the end of 2012. CNR will deliver 232 diesel locomotives worth R7.8bn. Another CNR partner is Linontando Investments, which was also seemingly registered after the tenders were submitted. Company records show that Lindiwe Ngcobo, the former business partner of Edward and Mxolisi Zuma, sons of President Jacob Zuma, is the sole director. The consortium for the largest winner in the tender process, CSR Zhuzhou Electric Locomotive, is being investigated by the Public Protector. The investigation stems from CSR’s previous Transnet contract for 95 locomotives in 2012, which are being delivered now. Public Protector spokesperson Kgalalelo Masibi said: “We have recently spoken to Transnet. They will provide additional information and are giving us their cooperation.” CSR’s partner in the new contract is a slightly reconstituted Matsetse Basadi Consortium that participated in its earlier Transnet contract. DUURSTE SOUSTREIN! (Rapport, 23/3/2014) Een van die plaaslike bemagtigingsvennote in Transnet se reuse-tender vir lokomotiewe moes in die koerant lees sy maatskappy kry ’n stuk van dié R50  miljard-koek. ’n Direkteur van ’n ander bemagtigingsmaatskappy was ’n senior bestuurder by Transnet toe dié besig was om te besluit wie die kontrakte gaan kry. Voorts word ’n filiaal van die Chinese vervaardiger wat die leeueaandeel in die tender beklink het, sedert 2012 deur die Namibiese owerhede ondersoek weens moontlike korrupsie in sy transaksies met dié buurland. Dít blyk uit Rapport se ondersoek na een van die grootste enkele staatsuitgawes in die land se geskiedenis. Transnet het Maandag aangekondig vier lokomotiefvervaardigers kry, saam met hul bemagtigingsvennote, altesame R50  miljard se kontrakte om 1  064 diesel- en elektriese lokomotiewe te lewer. Die kontrakwenners is filiale van China North Rail (CNR) en China South Rail (CSR), die Gautrain-verskaffer Bombardier en General Electric, plus hul plaaslike bemagtigingsvennote. Hoewel die aankope as broodnodig beskou is, is die keuse van tenderaars en hul vennote nou onder verdenking. ’n Suid-Afrikaanse regskenner met insae in tenderprosesse sê die Transnet-tender lyk “ongesond”. Hy wou anoniem bly. SA WILL MAKE LOCOMOTIVE ‘FRILLS’ (Business Report, 24/3/2014) The core engineering parts in Transnet’s 1 064 locomotives, for which the winning bidders were announced on Monday last week, will all be produced outside South Africa. Parts such as the engines and traction motors will be exported by the companies that won the tender from their countries of origin. Only the “frills” would be manufactured in South Africa before they were assembled here, Transnet chief executive Brian Molefe said on Friday. Speaking after a community engagement in Khayelitsha on Thursday about job opportunities and enterprise development that would result from the locomotive contract, Molefe said that not only General Electric South Africa but all suppliers would import core parts to South Africa. Meanwhile, Transnet was at pains yesterday to rebuff claims of conflicts of interest in the tender process after reports surfaced that some of its former employees involved in the procurement process were now involved in empowerment firms that were partners of the firms that were awarded work.

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TRANSNET WANTS ENGINEERS NOT CLEANERS (Business Report, 24/3/2014) It is not true that poorer communities are only good for cleaning work and other low-paid jobs in engineering projects, Transnet CEO Brian Molefe said in Cape Town on Thursday. “A criticism that has been levelled at Transnet... is that people are saying the role of black people in these programmes is to be cleaners, is to supply catering contracts,” he told a packed hall in Khayelitsha. “I am here to say there is a lot of business to be done with Transnet beyond the cleaning services and catering services.” He said he wanted residents to be equipped with the skills that would enable them to supply engineering consulting and other core functions. He invited them to apply at maritime and engineering schools. See article “SOUTH AFRICA FALLS IN 2014 GLOBAL LOGISTICS RANKINGS” under heading INTERMODAL GENERAL ZIM LOOKS FOR SA FUNDING OF NEW RAIL LINE (Cargo Info Africa, 24/3/2014) The National Railways of Zimbabwe (NRZ) is courting SA companies to fund the construction of a proposed Chiredzi-Mutare railway line to provide a cheaper and direct link between SA and Beira in Mozambique, reports Zimbabwean newspaper News Day. Currently, rail traffic from SA to Mozambique’s northern parts comes through Beitbridge to Harare before heading to Mutare, a distance of more than 1 000 kilometres. According to a business proposal seen by The Source, the project whose cost was not given, will link traffic from Beitbridge to Rutenga then to Chiredzi and subsequently Mutare, cutting the distance by more than half. The struggling parastatal has dispatched the proposal to different companies in Africa. Primarily, the railway line will transport agricultural produce from the Lowveld to the eastern border town and Mozambique. The Lowveld is home to the country’s largest sugar estates and milling companies who could benefit from the railway link. NRZ has tabled a number of ambitious proposals, among them the Harare-Chitungwiza urban commercial railway system estimated to cost about US$440 million dollars and the Kadoma-Sengwa link. (Whole article) CURRENCIES AND PRICES

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(Mail & Guardian, 24/3/2014)

JSE AS AT 17:00PM 20 MARCH 2014

All Share Index 20/03 46,508

- 158.27 - 0.34%

Industrials Index 20/03 41,925

- 165.98 - 0.39%

Financials Index 20/03 33,581

- 246.34 - 0.73%

Top 40 Index 20/03 41,885

- 121.54 - 0.29%

Industrial 25 Index 20/03 53,434

- 166.28 - 0.31%

Financial 15 Index 20/03 12,858

- 92.82 - 0.72%

Resources 10 Index 20/03 54,327

+ 4.31 + 0.008%

Alt-X Index 20/03 1,183

- 10.46 - 0.88%

WORLD INDICATORS

FOREX

Rand/Dollar 06:34 10.8958

+ 0.02 + 0.22%

Rand/Pound

06:30 17.9431

+ 0.003 + 0.02%

Rand/Euro 06:30 15.0421

+ 0.02 + 0.14%

COMMODITIES

Gold (usd/oz) 06:35 1,326.72

- 4.88 - 0.37%

Platinum (usd/oz)

06:33 1,436.40

+ 0.40 + 0.03%

Brent (usd/barrel) 06:01 106.72

+ 0.87 + 0.82%

WORLD MARKETS

Wall St (DJIA) 21/03 16,308

- 23.40 - 0.14%

Germany (DAX)

21/03 9,343

+ 100.39 + 1.09%

Japan (Nikkei) 06:32 14,482

+ 258.25 + 1.82%

(Business Report, 24/3/2014) COPPER A – SETTLEMENT PRICE – 6935, 9 FORWARD RATES - Dollar/rand 4pm close: R10, 85975 (20/3)

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Commodity Price ReportUPDATED 05-Feb-14

Current (Spot)

Commodity Prices Nov-13 Dec-13 Jan-14 Q1 2013 Q2 2013 Q3 2013 Q4 2013 2011 2012 2013

Manganese ore = (Mn 38% fob PE $/dmtu) 3.84 3.37 3.71 3.84 4.46 4.14 3.56 3.63 6.03 4.90 3.95

( 2010, 11, 12 Total average price for Manganese

source: Metalbulletin; New Sources = I - Net)

Iron Ore China Fines cfr main China port

USD/dry metric tonne ( 63.5% grade) 130.88 136.60 136.25 130.88 150.08 126.46 133.65 135.54 175.52 132.08 136.17

Bituminous Coal:(FOR) (2010-12 = steamcoal)

Local = R/ton (from Jan 2013) 271.00(e) 271.00(e) 271.00(e) 271.00(e) 252.00 251.33 269.00 271.00(e) 196.00 222.00 257.00(e)

Anthracite = R918.00 / ton = Sep 2013 )

Coal Export Spot = $/ton FOB R/Bay 80.14 83.77 85.09 80.14 83.72 79.45 73.6 85.22 115.28 92.65 80.50

Chrome Ore SA LG6 MET GRADE PRICE

42%CIF $/TON (New Sources: I-Net) 178.00 173.00 173.00 178.00 194.33 185.00 173.00 173.00 245.00 188.00 181.33

Ferrochrome Sport Price CIF ($/LB CR) 1.13 1.13 1.13 1.13 1.13 1.27 1.13 1.13 1.26 1.21 1.16

(New Sources : I - Net)

Stainless Steel FOB NE $/Tonne 2084.00 2098.00 2098.00 2084.00 2 402.67 2 278.00 2 105.67 2 105.33 3 933.92 2 702.00 2222.92

Wheat (WEATN) R/TON 3824.00 3560.00 3570.00 3824.00 3 488.00 3 496.00 3 386.33 3 542.33 2 975.67 3 169.00 3478.25

White Maize (WMAZN) R/TON 3471.00 2520.00 2930.00 3471.00 2 189.33 2 269.66 2 322.67 2 614.00 1950.33 2335.00 2348.92

Yellow Maize (YMAZN) R/TON 3450.00 2507.00 2900.00 3450.00 2 223.33 2 253.33 2 144.00 2 567.33 1 950.25 2 346.00 2297.00

Diesel - Gauteng (R/L) Litre 12.87 12.44 12.55 12.87 11.43 11.58 12.41 12.53 9.25 10.75 11.99

Petrol 95 ULP - Gauteng(R/L) Litre 13.57 13.02 13.19 13.57 12.40 12.68 13.42 13.17 9.95 11.56 12.92

Oil Brent Crude ($/Barrel) Litre 107.05 111.02 110.8 107.05 112.57 101.77 110.03 110.16 112.46 112.03 108.63

Steel:

HR coil (US $/ton) 595.00 575.00 585.00 595.00 582.50 603.33 590.00 586.67 694.79 622.50 590.63

CR coil (US $/ton) 690.00 690.00 695.00 690.00 710.00 683.33 685.00 689.17 784.79 721.00 689.38

HR coil (EU €/ton) 450.00 445.00 445.00 450.00 503.00 469.33 467.50 441.67 554.60 523.00 469.17

CR coil (EU €/ton) 540.00 540.00 540.00 540.00 581.67 563.00 549.00 536.67 654.80 612.00 557.08

Economic Indicators

CPI (Headline) 5.40 (e) 5.30 5.40 5.40 (e) 5.73 5.67 6.23 5.40 5.0 5.60 5.76

PPI (final manufactured goods) monthly = % 6.50 (e) 5.80 6.50 6.50 (e) 5.63 5.40 6.67 6.20 8.33 6.20 5.98

R/$ (month average) R/€ = 15.05 R/£ = 18.15 (

Business Report, 5/2/2014)

10.86 10.20 10.35 10.86 8.95 9.49 10.02 10.15 7.25 8.20 9.64

Petrol/ Diesel Price

YR2014

01-Jan-

14

05-Feb-

14

05-Mar-

14

02-Apr-

14

07-May-

14

04-Jun-

14

02-Jul-

14

06-Aug-

14

03-Sep-

14

01-Oct-

14

05-Nov-

14

03-Dec-

14

COASTAL

95 LRP (c/l) 1320.00 1359.00 1395.00

95 ULP (c/l) 1320.00 1359.00 1395.00

Diesel 0.05% (c/l) 1260.55 1284.75 1311.95

Diesel 0.005% (c/l) 1263.95 1288.15 1316.35

Illuminating Paraffin (c/l) 963.828 975.828 991.828

Liquefied Petroleum Gas

(c/kg) 2260.00 2314.00 2372.00

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GAUTENG

93 LRP (c/l) 1336.00 1375.00 1411.00

93 ULP (c/l) 1336.00 1375.00 1411.00

95 ULP (c/l) 1357.00 1396.00 1432.00

Diesel 0.05% (c/l) 1287.15 1311.35 1338.55

Diesel 0.005% (c/l) 1290.55 1314.75 1342.95

Illuminating Paraffin (c/l) 1009.728 1021.728 1037.728

Liquefied Petroleum Gas

(c/kg) 2442.00 2496.00 2554.00

YR2013

02-Jan-

13

06-Feb-

13

06-Mar-

13

03-Apr-

13

01-May-

13

05-Jun-

13

03-Jul-

13

07-Aug-

13

04-Sep-

13

02-Oct-

13

06-Nov-

13

04-Dec-

13

COASTAL

95 LRP (c/l) 1151.00 1192.00 1273.00 1283.00 1210.00 1202.00 1286.00 1318.00 1313.00 1293.00 1265.00 1282.00

95 ULP (c/l) 1151.00 1192.00 1273.00 1283.00 1210.00 1202.00 1286.00 1318.00 1313.00 1293.00 1265.00 1282.00

Diesel 0.05% (c/l) 1086.67 1104.47 1162.85 1170.01 1114.45 1110.47 1188.67 1221.63 1235.45 1233.45 1218.25 1228.37

Diesel 0.005% (c/l) 1091.07 1108.87 1167.25 1175.41 1118.85 1114.87 1193.07 1226.03 1240.85 1238.85 1221.65 1231.77

Illuminating Paraffin (c/l) 807.128 833.128 890.128 860.328 802.328 803.328 878.328 903.328 928.328 924.328 908.328 924.828

Liquefied Petroleum Gas

(c/kg) 2047.00 2120.00 2238.00 2183.00 2102.00 2107.00 2236.00 2258.00 2267.00 2227.00 2186.00 2204.00

GAUTENG

93 LRP (c/l) 1165.00 1206.00 1287.00 1297.00 1224.00 1216.00 1300.00 1332.00 1327.00 1308.00 1280.00 1297.00

93 ULP (c/l) 1165.00 1206.00 1287.00 1297.00 1224.00 1216.00 1300.00 1332.00 1327.00 1308.00 1280.00 1297.00

95 ULP (c/l) 1186.00 1227.00 1308.00 1320.00 1247.00 1239.00 1323.00 1355.00 1350.00 1330.00 1302.00 1319.00

Diesel 0.05% (c/l) 1111.37 1129.17 1187.55 1196.61 1141.05 1137.07 1215.27 1248.23 1262.05 1260.05 1244.85 1254.97

Diesel 0.005% (c/l) 1115.77 1133.57 1191.95 1202.01 1145.45 1141.47 1219.67 1252.63 1267.45 1265.45 1248.25 1258.37

Illuminating Paraffin (c/l) 849.028 875.028 932.028 906.228 848.228 849.228 924.228 949.228 974.228 970.228 954.228 970.728

Liquefied Petroleum Gas

(c/kg) 2229.00 2302.00 2420.00 2365.00 2284.00 2289.00 2418.00 2440.00 2449.00 2409.00 2368.00 2386.00

(SAPIA online)

Daily prices for 21 March 2014

LME Official Prices, US$ per tonne

Contract Aluminium Alloy Aluminium Copper Lead Nickel Tin Zinc NASAAC

Cash Buyer 1845.00 1676.50 6539.00 2060.00 15985.00 22975.00 1952.00 1895.00

Cash Seller & Settlement 1855.00 1677.00 6539.50 2061.00 15990.00 23000.00 1952.50 1905.00

3-months Buyer 1875.00 1718.50 6525.50 2083.00 16000.00 22925.00 1955.00 1920.00

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Contract Aluminium Alloy Aluminium Copper Lead Nickel Tin Zinc NASAAC

3-months Seller 1885.00 1719.00 6526.00 2083.50 16010.00 22950.00 1955.50 1930.00

15-months Buyer 22855.00

15-months Seller 22905.00

Dec 1 Buyer 1930.00 1860.00 6555.00 2125.00 15940.00 2000.00 2055.00

Dec 1 Seller 1940.00 1865.00 6565.00 2130.00 16040.00 2005.00 2065.00

Dec 2 Buyer 1923.00 6570.00 2143.00 15925.00 2018.00

Dec 2 Seller 1928.00 6580.00 2148.00 16025.00 2023.00

Dec 3 Buyer 1982.00 6575.00 2145.00 15925.00 2013.00

Dec 3 Seller 1987.00 6585.00 2150.00 16025.00 2018.00

(London Metal Exchange, 24/3/2014)

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