LME discussion paper proposals would not serve physical market - IWCC

The proposals included in the London Metal Exchange’s discussion paper would not serve the needs of the physical market and could have a negative impact on copper and copper alloy semis-fabricators, the International Wrought Copper Council (IWCC) said.

Mark Loveitt, IWCC president and director, said the association is not opposed to change but believed the proposals would not achieve the LME’s stated objective of supporting the requirements of its physical users.
Many of the proposals in the current discussion paper resembled those issued in 2017, which were subsequently rejected by the users of the exchange, the IWCC said.

“Little has changed in the physical business in the past four years to cause the LME to relaunch proposals that had been recently dismissed,” the IWCC said. “It is...

Published

Andrea Hotter

March 22, 2021

16:34 GMT

New York