That decision won’t come until the end of October at the earliest, when the board of the exchange meets to discuss the feedback from market participants, which is currently being pulled together in a final recommendation document.
And that feedback has been extensive.
From aluminium producers such as Alcoa and UC Rusal, to consumers in the brewing fraternity like MillerCoors, as well as brokers, traders, warehouse firms and other kinds of market participants in between – everyone that wanted to have its say, has probably had it by now.
While the results of the consultation are not yet known – and the UK regulator the Financial Conduct Authority will still have to sign off anything the exchange decides – the LME appears to be listening to what the users of the exchange are telling it.
Expect some tweaks...