Durban port resumes metal cargo shipments but at lower operating rate

Some metal-product cargoes can now be shipped out of Durban, almost one month after the biggest terminal in sub-Saharan Africa stopped handling such material amid a nationwide lockdown intended to contain the spread of the Covid-19 pandemic, Fastmarkets has learned.

Several Asia-bound copper cargoes originally scheduled to leave the South African port one month ago departed over the past weekend, two trader sources said.
Non-essential cargoes, including metal and mineral products in containers, have been permitted to leave to ease the congestion at the port, with pre-booked or delayed shipments given priority. A similar arrangement will apply to bulk shipments, according to industry sources.

"The operation rate at the Durban port is still low. I would not...

Gold and silver price ETFs see major net outflows

Gold stocks decline by less than metal price

A shift to the later stages of gold and silver bull markets

Gold stocks plunge on metal drop

Gold stocks still up after pullback late in the week