LME ASIA WEEK 2018: Top topics to expect at this year’s Hong Kong meet

As members of the metals industry, including the London Metal Exchange, brokers, traders, producers, consumers, banks and warehouse companies, prepare to gather for LME Asia Week in Hong Kong from Monday May 14, Metal Bulletin reviews the likely topics of discussion.

Opening up China’s markets China has been opening up its economy and markets recently. In May, China allowed foreign investors to trade iron ore on the Dalian Commodity Exchange for the first time, following the decision to permit foreign investors to trade crude oil futures on domestic exchanges in March. Beijing has a step-by-step plan for internationalization and will take a phased approach, gradually unwrapping restrictions and allowing more free access to its markets, some participants believe. “It’s a one-to-one type relationship. Overseas clients can have only one account through one broker on the DCE. On day one, of 49 overseas clients that traded iron ore, we had 7 of them or 15% of the offshore clients,” Jeremy Goldwyn, managing director at broker BANDS Financial, said. “SGX iron ore will be complementary for some time. One day things might tip over in one direction or another,” Goldwyn said regarding iron-ore trading...

Published

Shivani Singh

Alice Mason

May 11, 2018

15:30 GMT

Singapore, London