LME is reportedly planning to launch new metal contracts settled using SHFE futures contract prices. Three sources familiar with the matter revealed that the London Metal Exchange (LME) is planning to introduce new metal contracts using futures prices from the Shanghai Futures Exchange (SHFE), further enhancing China's influence on the global metal market. Sources said that LME will pay a licensing fee to SHFE, and the new metal contracts will be settled at LME's clearinghouse using SHFE futures contract prices, but there is currently no timetable for the launch. It is also unclear which metals are involved in this initiative, but copper and aluminum are both large-volume metal contracts on both SHFE and LME. (caijing.com)