LONDON Feb 5 Half a dozen of the lowest ranking
members on the London Metal Exchange with no trading rights,
including global miner Rio Tinto, have resigned, the LME
said on Friday.
A members' notice announcing the resignations of category 5
members gave no reason behind the moves, although one of the
companies has upgraded its membership. A spokeswoman declined to
While one arm of commodities trader Cargill Inc
has resigned as a category 5 member, Cargill's financial
services business joined the LME as a category 2 member in
Category 5, or associate trade membership, attracts
industrial or financial companies who want to "keep abreast of
LME activities, its contracts and their development and news on
the Exchange itself", according to the LME website.
Other members that have resigned were: Nyrstar Buden BV,
MetAlliance LLP, Lonconex Ltd and Enmetco.
The LME, the world's biggest market for industrial metals,
is owned by Hong Kong Exchanges and Clearing Ltd..
(Reporting by Eric Onstad; Editing by Elaine Hardcastle)