You will note that at the producer's request, with effect from 18 January 2000, no further deliveries of Norilsk Combine and Severonickel Combine brands of cut cathode would be deliverable because of changes of brand names to Norilsk Combine H-1, Norilsk Combine H-1Y, Severonickel Combine H-1 and Severonickel Combine H-1Y. The LME was advised that this re-branding did not involve any changes to the production methods or quality of the metal.
At the same time the LME approved the following full plate cathode nickel brands, from which the above brands of cut cathode are derived: Norilsk Combine H-1, Norilsk Combine H-1Y, Severonickel Combine H-1 and Severonickel Combine H-1Y, deliverable with effect from 4 January 2000.
You will also note that Regulation 2.3.2 of Part 6, Special Contract Rules for Primary Nickel states:
"2.3.2
……. Bundles should not exceed 1.6 tonnes in weight and with the brand name marked indelibly either a) on clips attached to the producer's bundle strapping, or b) on producer's strapping, or c) on each cathode within each bundle or d) on an indestructible tag attached to each bundle. The lot number, gross and nett weights should also be either marked indelibly on a) the top cathode within each bundle or b) an indestructible tag attached to each bundle."
The LME has been asked to clarify the situation where nickel of Norilsk Combine and Severonickel Combine brands are presented for warranting.
The effect of the regulation 2.3.2 above is that provided the person placing the nickel on warrant and the warehouse company responsible for warranting the metal are satisfied that the metal fully meets the requirements of the LME rules, that nickel can be warranted as one of Norilsk Combine H-1, Norilsk Combine H-1Y, Severonickel Combine H-1 and Severonickel Combine H-1Y, as appropriate.
All parties responsible for placing the metal on warrant must ensure that the metal meets the quality requirements for the appropriate brand and that the documentation demonstrates that to be the case. They will also have to satisfy themselves that the brand replacing the old brand name is either H-1 or H-1Y and ensure that it is marked accordingly. In respect of full plate cathode, the regulations do not state that the tag attached to the bundle needs to be provided by the producer.
It should be noted that the LME has received letters of undertaking from Norilsk Mining Company and Kolskaya Mining Company respectively, confirming that the quality of Norilsk Combine and Severonickel Combine brands produced by RJSC "Norilsk Nickel" prior to 18 January 2000 meet with the LME's requirements as stipulated in their undertakings in relation to Norilsk Combine H-1, Norilsk Combine H-1Y, Severonickel Combine H-1 and Severonickel Combine H-1Y brands respectively.
It must be remembered that at all times it is the responsibility of the persons placing metal on warrant to ensure that the metal meets the LME requirements and the content of this notice does not reduce that obligation in any way.
If you have any queries, please contact Brian Dorkings, LME Head of Operations or Melanie Lieberman, LME Brands Listings Manager, at the Exchange.
