Metal trading up in China; activity shrinks at LME

London

TRADERS are buying and selling more metal than they have in years on Chinese and American exchanges. In London, the heart of the global market for more than century, it is just the opposite.

During the first four months of the year, futures trading on the London Metal Exchange (LME) fell a combined 10 per cent for its six main contracts, including copper and aluminium. That is the worst start to a year since the data began in 2006. While the LME remains the industry's primary hub, its share of the global market slipped to 76 per cent last year from 83 per cent in 2012, according to the exchange.