Opening Date Announced for Rhyl's Queen's Market
The Queen's Market buildings have been an iconic landmark in the centre of Rhyl since 1902 and have provided a variety of uses for the town throughout the years.
The new development includes 16 individual food and retail units, a double-sided bar and a large events space, and will be an integral community space right in the heart of Rhyl, Denbighshire County Council said.
To celebrate the opening of the venue, a series of celebratory opening weekend events will be held each day from Thursday July 10 up until the end of the weekend.
The internal fit out of the Market is now reaching the final stages, with final preparations being made ahead of opening the venue.
Councillor Jason McLellan, Leader of the Council and Lead Member for Economic Growth & Tackling Deprivation, said:
'This venue will bring a fresh, modern and exciting offer to Rhyl and Denbighshire as a whole, and plays a major role in our regeneration efforts in the area by creating jobs and increasing footfall in Rhyl.
'The Market has great public transport links and is walking distance from both the high street and the beach.
'Queen's Market will be a hub for the community and will feature high-quality food, drink and retail options, as well as a state of the art, modern events space, which will be used to host concerts, markets, comedians, events and more.
'The building is opening right in time for summer, and just before the start of the summer holidays, one of the busiest times for footfall and tourism in the area.
We are inviting all residents of Rhyl, and further afield, to come along to the opening weekend and discover what this new venue can offer them.'
Andrew Burnett, Director at Midlands Events (Rhyl) Limited, said:
'We have a fantastic mix of high-quality food retailers, a themed bar and a full weekend of fantastic entertainment planned for the opening weekend.
'We look forward to welcoming all customers to come along to relax, eat good food, have a relaxing drink and enjoy the free entertainment we have planned over the weekend.
'We are very proud of the venue we have created and look forward to welcoming everyone on site.'
The Queen's Market project has received funding from the Welsh Government, largely through its Transforming Towns Programme. The project has received funding from UK Government's SPF funding.
It has also received funding from UK Government through the Pride of Place & Natural Environment: Rhyl, Prestatyn & Denbigh Programme. The project is also funded by Denbighshire County Council.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
9 minutes ago
- Reuters
Copper's physical tariff trade is rapidly unwinding
LONDON, July 24 (Reuters) - U.S. President Donald Trump sprang a double surprise on the copper market when he announced import tariffs of 50% effective next month. The market was betting that tariffs would be set lower and come with a longer lead-time. The futures market is rapidly readjusting, with the CME copper contract punching out record highs as it prices in the higher tariff differential with the London Metal Exchange (LME) contract. So too is the physical supply chain. The August 1 start date signals the end of the race to ship physical metal to the United States to capture the tariff arbitrage. A lucky few with cargoes already afloat may yet cross the finishing line in time, but the physical tariff trade is rapidly unwinding. That's already manifest in rising inventory and loosening time-spreads on the London market. The tariff trade has been a bonanza for merchants and traders ever since the Trump administration announced the launch of a national security investigation into U.S. copper import dependency back in February. It's been such a money-spinner that they've stripped both the physical supply chain and markets of last resort, such as the LME and the Shanghai Futures Exchange (ShFE), for available copper. U.S. imports of refined copper surged to 541,600 metric tons between March and May, equivalent to 60% of imports over the whole of 2024. Flows from traditional sources such as Chile and Peru have accelerated, and they've been supplemented by arrivals of Australian, Asian and European brands of copper. CME inventory has more than doubled since the start of March and at 222,723 tons is now just shy of the 2018 peak. More copper is sitting in the off-market shadows. Analysts are pegging the excess at somewhere between 400,000 and 500,000 tons, which in the view of Citi would "negate U.S. copper import demand for the rest of 2025." Allowing for continued flows of metal under long-term supply contracts, it could take up to nine months to work off the mountain of metal, according to Macquarie Bank. It won't take that long for the global supply chain to adjust, judging by rising stocks and looser spreads on the London market. Indeed, the benchmark cash to three months period flipped from backwardation to contango almost immediately on the tariff confirmation, as 25,000 tons of copper earmarked for physical load-out were dumped back in the market. With the shipping window to the United States now closed, LME inventory has jumped by 33,525 tons this month, thanks in large part to shipments by Chinese producers. Chinese exports of refined copper have been accelerating since March in response to the U.S. drain on LME stocks and the resulting spread tightness. LME warehouses in Taiwan and South Korea have traditionally been the prime locations for receiving Chinese metal, but the opening of exchange warehouses in Hong Kong now allows for faster delivery. Exchange warehouses on the island have already received 5,975 tons of copper since opening for business on July 15. There may be more to come. The LME benchmark spread is now in a comfortable contango of $66 per ton, compared with a backwardation of more than $300 per ton at the end of June. Trump's tariffs have split global copper pricing between the United States and the rest of the world. Copper bulls are cheering CME's rise to new historic highs, but this is a direct reaction to higher than expected import tariffs rather than a reflection of global market dynamics. The CME spot premium over the LME price has jumped from $1,233 per ton on July 7 to $3,095. In terms of the implied tariff impact on U.S. pricing, the CME price differential has widened from 13% to 31% since Trump pulled the tariff trigger. The LME three-month price , by contrast, remains locked in a sideways range just below $10,000 per ton, still a good way short of the record highs above $11,000 per ton seen in May 2024. Despite the mass relocation of global inventory towards the United States, total exchange stocks are little changed on the start of the year. Including both LME off-warrant stocks and copper registered with ShFE's international INE arm, global exchange inventory is currently down by just 18,000 tons on the start of January. The stable LME price, rather than the overheated U.S. price, captures that ambiguous reality. The devilish detail in the new tariffs is conspicuously lacking. Will copper product imports be included? Will there be restrictions on U.S. exports of copper scrap? Will there be exemptions for favoured suppliers? We don't yet know, but it's clear that global pricing has just fractured. Doctor Copper now has a transatlantic double, but the real reflector of global manufacturing activity is the one in London, not the U.S. doppelganger. The opinions expressed here are those of the author, a columnist for Reuters.
Reuters
39 minutes ago
- Reuters
Exclusive: Rio Tinto weighs sale of titanium business, sources say
July 24 (Reuters) - Rio Tinto (RIO.L), opens new tab is considering a possible sale of its titanium unit due to weak prices and low returns, three sources said, just as incoming CEO Simon Trott will weigh up a restructuring of the world's second-largest miner when he takes over next month. Titanium, used to make paints, cosmetics and food colouring, is also a vital ingredient in jet engine parts, missile casings, rocket components, submarines and naval vessels because of its strength, corrosion resistance and lightweight properties. China, the world's biggest producer and consumer of titanium dioxide, has expanded its production to capture over half the global market over the past decade, according to data from the U.S. Geological Survey. China wields significant pricing power, which has knock-on effects for Western miners, including on margins. Against this backdrop, Rio Tinto (RIO.L), opens new tab, ( opens new tab has been evaluating whether the titanium business still has a place in its portfolio. How to exit it could be one of Trott's first decisions, the three sources familiar with matter said. Rio Tinto declined to comment. Rio would not be the first to exit titanium. Bowing to investor pressure, DuPont (DD.N), opens new tab in 2013 said it would spin off its own titanium dioxide business, opens new tab. In the company's portfolio, titanium falls under the Minerals business, headed by Sinead Kaufman. This division also includes borates, used in cleaning products, as well as the Iron Ore Company of Canada, diamonds, and the Jadar lithium project in Serbia. The Minerals division reported an underlying EBITDA of $1.1 billion in 2024, 24% lower than in 2023, the company's financial report shows. Iron and titanium operations in South Africa and Canada accounted for more than half. Trott, who takes over as the company's CEO on August 25, has headed the iron ore division since 2021. There is an acknowledgement at the company that internal costs, such as staffing, are excessive, sources have told Reuters, so cost-cutting is expected. "There's going to be a middle management clean out," said one of the sources, who was not authorised to speak publicly. Part of Trott's pitch and vision for Rio includes a focus on streamlining the structure of the company's core businesses iron ore, copper, lithium and aluminium, the sources said. Australia and possibly Canada's iron ore operations, and the upcoming Simandou project in Guinea are likely to be grouped together, as well as the recently acquired U.S. lithium company Arcadium and its other lithium projects and investments, they added. Rio is scheduled to release its half-year results on July 30.
Reuters
2 hours ago
- Reuters
UK trading platform IG Group tops profit forecast on market volatility
July 24 (Reuters) - British online trading platform IG Group (IGG.L), opens new tab reported a forecast-beating 17% rise in full-year pretax profit on Thursday, driven by a surge in trading volumes amid recent market turbulence, sending shares up more than 6%. Firms such as IG Group and Plus500 (PLUSP.L), opens new tab have benefited from a pickup in trading volumes in recent months as clients rushed to adjust their portfolios in markets whipsawed by the uncertainty caused by U.S. tariff policies. London-based IG Group has been expanding its services to address missed opportunities, becoming the first London-listed company to offer crypto buying, selling, and holding after it launched, opens new tab trading in the UK in June. "We are actively looking at M&A opportunities," Chief Financial Officer Clifford Abrahams told analysts on a call. IG Group's recent acquisition, opens new tab of investment platform Freetrade more than doubled the company's active customer base to 820,000 by the end of the fiscal year to May 31. The company also plans to launch a 125-million-pound ($169 million) share buyback programme in the first half of this fiscal year. Its shares were up 6.9% at 1,132 pence around 1000 GMT. "If market turbulence persists, for which there is no shortage of triggers currently, there is a good chance buoyant trading conditions will persist," Shore Capital analyst Vivek Raja said in a note. IG Group expects to meet market expectations for total revenues of 1.11 billion pounds and cash earnings per share of 110.4 pence in the year to the end of May 2026. Adjusted pretax profit came in at 535.8 million pounds for the year ended May 31, up 17% from the year before. That compared with analysts' average expectation of 523.5 million pounds, according to a company-compiled consensus. ($1 = 0.7383 pounds)
