The exchange has published the outcome of its consultation on price determination, which was begun in June
. The consultation paper only received 12 responses.
By comparison, the original discussion paper published in January, which included the proposal to permanently close the open-outcry ring
, received 192 responses.
“The LME continues to believe that the official prices proposal represents the optimal solution for the market as a whole, by respecting the specific preferences of the physical market for ring-discovered prices,” a notice to exchange members said.
“This ensures that the LME continues to serve the physical market most effectively, and maintains the linkage between the physical market and LME contracts, which...