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LME to launch aluminium premium contract; no word on court appeal
April 7, 2014 / 3:10 PM / 3 years ago

LME to launch aluminium premium contract; no word on court appeal

LONDON, April 7 (Reuters) - The London Metal Exchange (LME) said on Monday it plans to launch a physically-settled aluminium premium contract and may expand it to other metals.

The LME, the world’s biggest marketplace for industrial metals, did not say in its statement whether it would appeal against a court ruling that halted a key reform aimed at cutting backlogs in its global warehouse network.

“The (warehouse reform) rule may still be implemented, potentially with revised timing periods, either as the result of an appeal or a fresh market consultation,” the statement said. (Reporting by Eric Onstad; Editing by Anthony Barker)

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