LME
Proposal to cease “open outcry” plastics trading / Move to electronic and telephone trading likely
The London Metal Exchange (LME, www.lme.com) has proposed that “open outcry” trading of plastics in the ring should cease due to low trading volumes. LME’s planned changes follow consultation with its members and will bring to an end a trading platform launched in May 2005. Plastics futures for LLDPE and PP will now be traded solely on the exchange’s electronic platform, “LMESelect”, and on the inter-broker telephone market. The LME said that trading in the ring is likely to cease in February 2010. The proposals and member responses are currently being reviewed by the LME executive committee and will be put to its board.

The LME was criticised by some quarters for moving into plastics from its traditional metals markets. Trading volumes were low and there was little industry support. In April 2008, LyondellBasell (Rotterdam / The Netherlands; www.lyondellbasell.com) resigned its position on the LME plastics committee because trading volumes for plastics on the market had been growing at a lower than anticipated rate – see Plasteurope.com of 25.04.2008. Paradoxically, the first half of 2009 saw volumes increase by 1.8% year-on-year – the LME had budged for a drop of 10% in volumes due to the economic downturn.
22.07.2009 Plasteurope.com [213905]
Published on 22.07.2009
LME: Handel mit Kunststoff-Futures nur noch onlineGerman version of this article...

© 2001-2019 Plasteurope.com  |  Imprint  |  Privacy

Plasteurope.com is a business information platform for the European plastics industry. It is part of KI Kunststoff Information and PIE Plastics Information Europe, one of the leading content providers for the European plastics industry. We offer daily updated business news and reports, in-depth market analysis, polymer prices and other services for the international plastics industry, including a suppliers guide, career opportunities, a trade name directory and videos.

News | Polymer Prices | Material Databases | Plastics Exchange | Suppliers Guide | Jobs | Trade Names | Videos | Associations & Institutions | Register | Advertising

PIE – Plastics Information Europe | KI – Kunststoff Information | KunststoffWeb | Plastics Material Exchange | Polyglobe | K-Profi
© 2001-2019 by Plasteurope.com, Bad Homburg
Date of print: 18.09.2019 03:24:18   (Ref: 98345626)
Text and images are subject to copyright and other laws for protection of intellectual property.
Any duplication or distribution in any media as a whole or in parts requires prior written approval by Plasteurope. URL: http://www.plasteurope.com/news/detail.asp