HOTTER ON METALS: Might the LME ring be about to lose a member?

Eight of the nine Category 1 members of the London Metal Exchange have indicated their support for continuing to trade official lunchtime prices in the open-outcry ring.

Does this mean that one company does not support ring trading? And could one of the exchange’s members be preparing to leave the trading floor?
The exchange revealed on Monday August 9 that it had majority support for the ring, in a statement accompanying the results of a consultation into a proposed split-pricing structure for exchange prices.
The consultation was launched in June following the results of a discussion paper process on the LME’s market structure, which included the decision to determine closing prices electronically on a permanent basis.

Of course, the absence of one Category 1 member from the process could be down to consultation fatigue, which appears to be a common theme. The last discussion paper had 192 responses, this one just 12 responses. It...

Published

Andrea Hotter

August 09, 2021

18:10 GMT

New York