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Quest for cheaper metals trading driving move to start LME rival

Brokers on exchange are concerned there is a disconnect between markets and users
Wednesday, June 8, 2016 - 05:50
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LME aluminium ingots lined up for export at Qingdao Port in Shandong. During the first four months of the year, its futures trading fell a combined 10% for its six contracts, including copper and aluminium.

London

IN the face of sliding volumes and tougher regulation, the London Metal Exchange (LME) may be getting a new challenge: more competition.

Martin Abbott, who orchestrated the LME's sale to Hong Kong Exchanges & Clearing Ltd, is now leading a group of brokers to study