June 8, 2015 / 3:57 PM / 3 years ago

LME delays launch of new contracts until Nov. 23

LONDON, June 8 (Reuters) - The London Metal Exchange has delayed the launch of its new contracts in steel and aluminium by about a month, until Nov. 23, to coincide with an upgrading of their clearing house platform.

Previously the LME had said it planned to launch new contracts for aluminium premiums as well as steel rebar and steel scrap on Oct. 26.

“There is a strong market request for a simultaneous launch of the new contracts and the next release of LME Clear’s core clearing platform,” the LME said in a statement on Monday. (Reporting by Eric Onstad; Editing by Pravin Char)

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