LME Announces Launch Date for Minor Metals – 22nd February 2010

LONDON, Sept. 9 -- The London Metal Exchange (LME) has confirmed that market participants will be able to start trading new minor metals contracts for molybdenum and cobalt from 22nd February, 2010.

    Initially, trading for dates three-months forward will be available via open outcry trading in the Ring, electronic trading on LMESelect and in the telephone brokerage market, while cash trading will commence in May.

    "The LME intends to be the leading forum for price discovery and risk management in the minor metals industry and there is already significant interest in these contracts from market participants," said Liz Milan, Commercial Director at the LME. "The transparency in how prices are determined, along with and the proven trading practices and physical delivery model of the Exchange, will enable market participants to manage price risk much more effectively."

    (Source: London Metal Exchange)