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LME reaches target of 5 market makers for new steel contracts-The 17th China(Guangzhou)Int'l Stainless Steel Industry Exhibition
12/29/2015 Stainless Steel Industry expo |
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The London Metal Exchange added three more market makers for its new steel rebar and scrap contracts, meeting its target of five market makers.
The LME, the world''s biggest marketplace for base metals trade, aimed to appoint at least five market makers to provide liquidity for its new contracts that were launched last month.
After reviewing tenders, the LME said in a statement it had selected three more electronic market makers, who are expected to provide bids and offers for the steel contracts. It did not name the chosen firms.
It said that "The LME has now reached its target of five market makers in the new ferrous products, and so does not propose to re-open the tender process at this time."
-stainless-steel-The 17th China(Guangzhou)Int''l Stainless
Steel Industry Exhibition
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