london metal exchange

LME Chief Garry Jones Steps Down

LME Chief Garry Jones Steps Down

The London Metal Exchange (LME) announced yesterday that its Chief Executive has stepped down. Garry Jones, who was also the executive director of LME and LME Clear (LMEC), retired yesterday, transitioning into an advisory role for the remainder of 2017. The LME...

Events

Aluminium Prices Break US$1,700 Barrier, Setting Fifteen-Month High

Aluminium prices broke through the US$1,700-per-metric-ton limit at the London Metal Exchange earlier this week. Experts chalk up the fifteen-month high to rising costs and a significant uptick in aluminium demand. Although the price has bumped up against the US$1,700 ceiling on the LME four times this year, the price finally broke through in part […]

Rusal Releases Production Totals for Third Quarter

Russian Federation aluminium giant UC Rusal announced third quarter operating results yesterday. Production of alumina remained flat, while the numbers for aluminum and bauxite were up slightly. Third-quarter aluminium production totaled 920 thousand metric tons, which is unchanged quarter-on-quarter. Smelters in Siberia accounted for 94% of the production in the quarter, and overall smelter utilization […]

Former LME CEO Abbott in Talks to Build New Metals Trading Platform

According to reports, several global base metals brokers are engaged in discussions with the former CEO of London Metal Exchange on the subject of starting a new trading platform as an alternative to the LME. Several “high-profile LME Category One” traders are believed to be in support of the initiative, which is likely to be […]

Hindalco Stock Corrected 6% Over Past Two Trading Sessions

Stock of India’s Hindalco Industries Ltd. has experienced a 6% correction over the last two trading periods on the National Stock Exchange of India. Experts say the slide in the Aditya Birla Group subsidiary is due to a similar dip in the price of primary aluminium on the LME. Although the sector has experienced a […]