LME to examine floor reopening after easing of UK lockdown
LONDON – The London Metal Exchange (LME) will examine whether the easing of social-distancing restrictions in England from July 4 will apply to its open-outcry floor, which has been closed for three months.
The 143-year-old exchange temporarily closed the floor - the last open-outcry floor in Europe - on March 23 due to Covid-19 restrictions and shifted activity to its electronic system.
Comments by CEO Matthew Chamberlain during an online seminar on Tuesday were more upbeat than an interview with Reuters last month when he said the floor was likely to remain shut for many months.
"We're absolutely working to get back to the ring as soon as possible, obviously driven by government social-distancing legislation," Chamberlain told the IDX derivatives conference.
"In the UK we can get back to the pub on the 4th of July... but the question is whether that will apply to our floor and we're going to need to look into that."
Prime Minister Boris Johnson said on Tuesday that pubs, restaurants and hotels could reopen in England early next month. Social distancing rules will be relaxed from two metres to one metre-plus, with the "plus" meaning measures like wearing masks and using protective screens.
While nearly every other financial exchange moved to screen trading, the LME has been one of the last bastions where traders still do live deals in a circle of padded, red-leather benches.
Floor dealers on the exchange, the world's oldest and largest market for industrial metals, have resisted the shift to full digital trading during the pandemic.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...
VISIT SHOWROOM
Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
