London Metal Exchange to launch Asian benchmark prices: statement


LONDON, AFP

The London Metal Exchange announced Thursday plans to launch reference prices for copper, aluminum and zinc based on activity during Asian trading hours from next January. “The London Metal Exchange (LME) will launch new reference prices for copper, aluminum and zinc markets on Jan. 24, 2011, based on trading activity on the Exchange during the Asian time zone,” a statement said.

The LME said that its electronic trading platform, LMEselect, has seen early morning trading grow significantly in recent years, with average daily volume before 7:00 a.m. London time up 90 percent so far in 2010 compared with 2009.