Temporary move of LME's open outcry trading hits volumes
London
THE temporary relocation of open-outcry trading at the London Metal Exchange (LME) to a disaster-recovery site due to problems at its new offices hit volumes hard during the already quiet summer months, broking sources said.
For all contracts traded on the LME, volumes fell more than 9 per cent year on year in August to 12.18 million lots, after a drop of nearly 18 per cent in July. Volumes for aluminium fell nearly 22 per cent, and copper, by seven per cent last month from the same period a year ago.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Glencore now sees FY trading division profit between US$3 billion-US$3.5 billion
Hong Kong team plants seeds to safeguard legacy grains
Gold holds steady as investors focus on US Fed meeting
Chevron CEO expects ExxonMobil arbitration resolved in coming months
Oil falls more than US$1/barrel on Middle East peace talks, US rate cut doubts
Diamond giant De Beers is in the shop window, but the potential buyers are few