london metal exchange

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

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...

Events

China’s Aluminium Prices Up, Semi Exports Down

China’s aluminium futures rose to their highest level in half a year on Monday, thanks to an increase in seasonal demand, and lowered domestic output due to capacity cuts made late last year. Stocks of aluminium ingots at major warehouses across China dropped from 937,000 metric tons last week to 870,000 metric tons this week. […]

JPMorgan Quietly Sheds Aluminium Stockpile After Report

A few short days after a report emerged alleging JP Morgan Chase & Co. owned over half of the aluminium traded on the London Metal Exchange, the financial giant quietly divested itself of approximately twenty percent of its stockpile. According to data published by Financial Times, the company’s position on the market is down to […]

JPMorgan Alleged to Own Half of All Aluminium Traded on LME

According to a report in Financial Times last week, American multinational banking and financial services giant JP Morgan Chase & Co. possesses in excess of half the aluminium traded on the London Metal Exchange. The world’s sixth-largest financial institution has a US$2 billion physical stockpile of aluminium. Traders and industry experts blame the 1.4 million […]

A way of optimism lifts metal prices

Base metal prices surged in February after the lowest start of the year since the global financial crisis in 2009, as a way of optimism prevailed among investors on stronger than expected U.S. economic data. Both aluminium and copper prices reached the highest levels for the previous three months, with aluminium LME cash price for […]

LME’s Aluminium Prices Hit 4-1/2-Month High

Aluminium prices rose to their highest level since mid-October on Wednesday. Experts attribute the boost to an announcement by the government of the People’s Republic of China that required reserve levels have been cut. Cuts in bank reserve levels, coupled with certain other structural reforms have boosted real estate prices as well. This cut in […]