|
|
|
 |
 |
BACK
15 February 2010
The London Metal Exchange (LME) has modified the price discovery process for plastics futures contracts traded on the Exchange. From today, prices for the LME plastics contracts in polypropylene and linear low density polyethylene will be discovered on LMEselect, the London Metal Exchange’s electronic trading platform. As part of the process the plastics contracts will be removed from open outcry trading in the Ring.
The volume-weighted average price from LMEselect for the period from 12.20 – 12.25 will be used to discover the daily Official price.
Martin Abbott, CEO of the London Metal Exchange comments: “There is still a valid case for plastics futures and there is evidence that in the last year market participants in the plastics industry have become more focused on risk management practices. We have chosen to focus liquidity on the electronic and telephone markets since this is what the industry uses most.”
~Ends~
For further information or to speak to an LME spokesperson, please contact:
Stephen White
Business Manager Corporate Affairs
t. +44 (0)20 7264 1701 / +44 (0)7980 661 724
e. stephen.white@lme.com
|
|
|
The London Metal Exchange is the world's premier base metals market. It offers metals price risk management tools including futures and options contracts for aluminium, copper, tin, nickel, zinc, lead, aluminium alloy and NASAAC, steel billet, plastics and the minor metals - cobalt and molybdenum. In 2009, the total value of trading was $7.41trillion, and the Exchange finished the year with 5.96m tonnes of material on warrant in 633 storage facilities across 39 locations globally.
http://www.lme.com/
|
|
|
|
|
