Slowing demand from China's stainless steel mills and rising supplies have halted a frenzied price rally and are likely to keep weighing on prices.
LONDON METAL EXCHANGE Mining News
The LME said in a notice to users that the resignation would be effective at the close of business on Nov. 24.
A consultation with users on the fee will start on Nov. 22 and end on Jan. 12 with a view to beginning charges from April 3, the LME said in a statement.
This year, copper was shoved out of the London limelight by new hot metals such as lithium, cobalt and nickel.
A source said the LME had made contact with established online venues Trayport and EBS, which are currently focused largely on energy and foreign exchange.
Jones will leave his current position at the exchange and serve as an adviser until the end of this year, according to a statement from Hong Kong Exchanges & Clearing Ltd, which owns the London bourse.
The LME’s previous attempt at trading gold lasted only three years .
Traders are momentarily based at a windowless disaster-recovery site in Chelmsford, east of London.
Martin Abbot says brokers are unhappy with the exchange's new fees as well as the sense that the LME is moving away from its traditional metals trading roots.
The LME, the world’s biggest metals bourse, has said for years that it wants to expand into London’s gold market.
The LME says its electronic solution for the platinum and palladium price — LMEbullion — could benefit gold bugs.
This is the first fee hike since Hong Kong Exchanges & Clearing Ltd. acquired LME for $2.2 billion in 2012.
Following a 19th century tradition traders today must sit on the red leather sofas arranged in a 20-foot diameter inner ring.
The world's biggest and oldest metals market is getting a makeover under new CEO.
Martin Pratt may replace Martin Abbott.
Martin Abbott agreed to stay in his current position until the end of this year.
I n early January 2009, Chilean President Michelle Bachelet announced a $4 billion plan to help Chile fight the global economic crisis and create as many as 100,000 jobs. The so-called "Anti-Crisis Plan" is based […]