LME eyes contract change to target Far East
Nov 29, 2005 | 09:23 AM
| Josephine Mason
The London Metal Exchange might consider changing the specifications of the aluminum alloy contract in order to boost liquidity and promote trading in the contract in the Far East.
The exchange wants to focus on Far Eastern markets, given the surge in the region's appetite for secondary aluminum in the past year, Liz Milan, the exchange's head of physical operations, said Tuesday at the 13th International Recycled Aluminium Conference in Cologne sponsored by AMM sister publication Metal Bulletin. "We will focus on the Far East markets to increase liquidity in alloy."
The LME is working toward approving a warehouse in Shanghai, but Milan said there is still a great deal of work to be done before it gets the go ahead. If the exchange approves a warehouse in Shanghai, it will provide a good location for alloy to be stored, she added.....
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