London metal trade was established basically in 1877 but the origins of it could be actually found during the reign of Queen Elizabeth I in the Royal Change in London in 1571. LME has come very far and has developed eventually to become one of many key market choices for dealers interested in materials. In December 2012, the London metal exchange (lme) was acquired by Hong Kong’s Deals and Clearing limited. Today, the lme is an impressive, energetic and modern global industry that is providing and helping metals firms from china to chile. There are eight organizations who enjoy exclusive privileges to trade in the band of lme. Although you’ll find around 100 companies that are from the lme as a whole. LME can be a common system for the people and companies of materials from all over the world to obtain an exposure of international metal trading market.
LME is working eventually, they’ve been establishing numerous projects which support their trading company. Ownership of latest technology into the program of trading and forum discussion has benefitted lme. LME also offers a digital trading system, which handles many part of LME business. They offer trading via phone, via electronic means and in addition by their traditional trading way of ring trading. Started with less amount of materials in their carrier, now lme inventory includes the majority of non-ferrous metals (Aluminium, zinc, jar, copper, lead, NASAAC, Dime, LMEX, LME mini, metal alloys and a whole lot more), ferrous metals (steel scrap and steel rebar), small materials (Molybdenum and cobalt) and precious metals (LME silver, LME Platinum, LME Palladium, LME Gold etc.).
Reasons for lme being among the largest market options,
It is world’s premier non-ferrous metals industry that offers futures and alternatives for metals like copper, aluminum, and steel.
It gives a forum program to find prices for months ahead.
Great hedging- LME has modified its operating treatment with the modernization. They have their particular LME approved warehouses, which are ideal for physical distribution in several countries.
24 hours a day global operations
Use of robust technology
Birmingham metal exchange has changed from as an important trading center of metals to world’s primary exchange for metals future and options.
In last decade, it’s completed a trading of value $US40 billion dollars.
Lme is solely responsible for choosing a cost for metals and because of its trading. These prices for different metals are decided from the people of the band of London metal exchange. LME has been evolving in a extremely fast pace since they will be delivering their assistance inside the most modern, trustworthy and strong amount because they can. They’ve produced their particular software for going live while trading and for discussing the data through LMELive. Solutions including LMELive (that has been produced over a JAVA platform) has presented a highly skilled ease for that dealer with the realtime information and data of LME available on their screen even when they’re 1000s of miles far from their center in London.
Data for london metal exchange for the year 2016
157 million lots
3.5 million tons
$10.3 trillion notional