Chris Evans, Head of Business Development, said, “This is an important milestone for the contracts. It’s been an encouraging start to trading in the soft-launch phase of the contracts and now that cash trading has begun, we hope to maintain progress.”

Cobalt has many applications such as the production of catalysts, batteries, chemicals, alloys and dyes. Molybdenum is widely used as an alloy agent in steel and stainless steel.

~Ends~

For further information about LME minor metals, please click here: LME minor metals - or to speak to an LME spokesman, please contact:
Stephen White
Business Manager Corporate Affairs
t. +44 (0)20 7264 1701 / +44 (0)7980 661 724
e. stephen.white@lme.com

John Parry - RostronParry
t. +44 (0)207 490 8062 / +44 (0)7802 292251
e. john@rostronparry.com

About the London Metal Exchange

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/