September 07, 2008

LME extends prompt dates for future metal contracts

It is reported that the London Metal Exchange will extend the prompt dates for the following futures contracts
1. High Grade Primary Aluminium and Copper Grade A contracts from 63 months to 123 months
2. Standard Lead from 15 months to 63 months
3. Special High Grade Zinc and Primary Nickel from 27 months to 63 months.

Mr Martin Abbott CEO of LME said that “There is already substantial OTC activity in these contract prompt dates. Bringing this activity into the LME environment will give market participants increased transparency, access to liquidity and the benefit of risk management that clearing offers.”