The price and inventory of London Metal Exchange have an important influence on the production and sales of non-ferrous metals worldwide. /kloc-In the middle of 0/9th century, Britain was the largest producer of tin and copper in the world. With the passage of time, the industrial demand is increasing, and Britain urgently needs to import a large number of industrial raw materials from foreign mines. Since the beginning of this century, the London Metal Exchange has publicly released its trading price, which has been widely used as the benchmark price of world metal trade. 70% of the global copper production is traded according to the official quotation published by the London Metal Exchange.
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The London Metal Exchange, the world's largest metal exchange, will accept RMB as collateral for banks and brokers to trade on this platform, which is the latest step in the process of RMB globalization. The trading volume of London Metal Exchange in 20 14 years is 15 trillion USD, and the pledged currencies accepted by the exchange include USD, EUR, GBP and JPY.
20 13 On August 27th, HKEx announced the appointment of Garry Jones as the chief executive officer and board member of the London Metal Exchange.
International membership LME adopts international membership, and more than 95% of its transactions come from overseas markets. Trading varieties include copper, aluminum, lead, zinc, nickel and aluminum alloy. The trading mode of the exchange is open outcry trading, which is carried out in the "market", also known as "floor trading", and its operation is supported by the 24-hour telephone order market and LME selection screen trading system. LME publishes a series of official prices every day, which are used as the pricing basis of spot metal contracts in the operation.
LME does not implement the price limit system. When the ring is traded, each commodity is traded alternately in each trading market for 5 minutes; In OTC trading, all metals are traded at the same time, and the index is traded at the same time; The rest of the non-trading time (inter-office) is electronic disk (24-hour trading). LME considers extending floor trading hours. According to senior traders, the London Metal Exchange (LME) may increase the open outcry trading in early trading for its unique futures contract, as the new shareholders in Hong Kong plan to cope with the competition from the Shanghai Futures Exchange. The introduction of the third trading session a little earlier will be the biggest change of this 35-year-old exchange since it started electronic trading more than ten years ago. This also runs counter to the global trend of electronic transactions. Executives of three trading companies said that the LME Trading Committee had discussed advancing the start time of "on-site" and "off-site" trading in London. An executive said: "LME is discussing early over-the-counter transactions to match the Far East market." It is not yet known when the LME will make a final decision, but informal negotiations may continue next week. Trading company executives said that the new trading time is the earliest or.