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LME
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LME

LME
LME
Set up in 1877 to provide a venue for trade conducted among metal merchants in London, the LME was sold in 2012 to the operator of the Hong Kong stock exchange. In 2013, it was a defendant in lawsuits accusing Goldman Sachs, JP Morgan and Glencore-Xstrata of rigging the aluminium market.
A pile of copper bars. High-value metals such as copper, lead, tin and zinc are stored in LME-approved warehouses in Hong Kong. Photo: Shutterstock
HKEX

‘Positive problem’: surging demand strains Hong Kong’s metals storage capacity

15 LME-approved warehouses are already full, underscoring city’s ambition to be a commodities centre – and its urgent need for more space.

Banking & finance

Hong Kong sharpens commodities hub ambitions with mediation and yuan push

Hong Kong property

Hong Kong’s warehouses find support from demand to store metals and art

HKEX

Hong Kong’s London Metal Exchange warehouses key for China: Paul Chan

The facilities in Hong Kong extend LME’s global network to the doorstep of mainland China.

Hong Kong Financial Secretary Paul Chan Mo-po addresses attendees at a celebration ceremony on Tuesday. Photo: May Tse
Hong Kong

Why the London Metal Exchange’s Hong Kong warehouses are a big deal

The development marks a pivotal step in strengthening Hong Kong’s position as a strategic commodities hub in Asia, industry leaders say.

HKEX

LME approves Hong Kong warehouses amid growing China metals trade

Milestone by HKEX-owned London Metal Exchange positions city to develop as a metals hub, CEO says.

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Banking & finance

Hong Kong to join LME warehouse network to serve China’s metals appetite

‘Major milestone’ enhances Hong Kong’s role as a conduit to China, the world’s biggest consumer of metals.

An employee checks aluminium ingots for export at Qingdao Port, Shandong province, in this March 14, 2010 file photo. Photo: Reuters
Banking & finance

Hong Kong should seize role in clean-energy commodities, think tank says

Commodities market would ‘create a new growth point for Hong Kong’s economy’, report from Better Hong Kong Foundation says.

Hong Kong stock market

Hong Kong bridges China, Asean, Middle East as ties grow: HKEX official

Office in Riyadh and plans for metal warehouse underscore HKEX’s role, Vanessa Lau says at Asian Financial Forum.

Banking & finance

Exclusive | Hong Kong’s potential as commodities hub draws expansion by Marex Group

The establishment of London Metal Exchange warehouses in Hong Kong will be a key enabler, Marex CEO says.

A collection of 100-gram gold bars sits on a table. Photo: DPA
Hong Kong economy

Opinion | A HKEX shift into data and connectivity could put Hong Kong on top again

From Nasdaq to the LSE, data is no longer a business by-product but an asset that can power the next generation of global capital markets.

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Data is the new oil and HKEX has to grasp this opportunity. Photo: Jonathan Wong
London Metal Exchange

LME eyes Hong Kong for warehouse to tap China’s growing metals trade with world

The bourse owned by HKEX is exploring the idea of adding a warehouse in Hong Kong to its global network to meet rising demand for the physical exchange of metals such as aluminium and zinc between mainland China and the rest of the world, according to its CEO.

Hong Kong

HKEX-owned LME targets Hong Kong as option for warehouse expansion: sources

The LME is studying Hong Kong as a location to expand its global metal warehouse network, five sources said, hopeful success in the city might open the door to mainland China, its ultimate target.

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HKEX

LME plans new metals contracts using Shanghai Futures Exchange prices: sources

The London Metal Exchange is planning to launch new metals contracts using prices from the Shanghai Futures Exchange, three sources said, further increasing China’s influence on global metals markets.

A file photo from September 2018 shows traders on the floor of the London Metal Exchange. Photo: Reuters
HKEX

HKEX, LME relish ‘incredible opportunities’ after winning nickel lawsuit

The London Metal Exchange and its parent, Hong Kong Exchanges and Clearing (HKEX), are ready to move forward and reboot investor confidence after winning a legal battle against American financial firms over cancelled nickel trades last year.

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Hong Kong-based brokers believe the ruling will allow HKEX to develop its commodities trading business. Photo: Jonathan Wong
Banking & finance

In nickel traders vs LME, lawyers spar over US$12 billion in cancelled trades

Judicial review of London Metal Exchange’s decision to cancel trades in March 2022 has potential to dramatically reshape how bourses respond to extraordinary market events in the future.

Banking & finance

LME faced ‘death spiral’ had it failed to act during nickel chaos: lawyer

The London Metal Exchange was forced to step in to stabilise the nickel market in March 2022 as chaos in the market put several members at risk of default and would have depleted the bourse’s fund to close out defaulted members’ positions, the bourse’s lawyer said.

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Banking & finance

LME lacked senior staff monitoring trading as nickel prices spiked: Jane Street

HKEX-owned bourse made ‘irrational’ decision to cancel trades amid nickel market chaos on March 8, 2022, Jane Street lawyer said.

Traders, brokers and clerks on the trading floor of the open outcry pit at the London Metal Exchange in February 2022. Photo: Bloomberg
Banking & finance

LME had options to avoid cancelling trades during nickel crisis, funds say

A judicial review in London is considering claims by Elliott Associates and Jane Street Global Trading that they were disenfranchised by LME’s response to chaos in the nickel market.

Banking & finance

LME set to defend itself in 3-day trial in London over nickel chaos

The HKEX-owned bourse faces lawsuits from US hedge fund Elliott Associates and quantitative investing firm Jane Street Global Trading over its decision to suspend trading and cancel nickel trades in March 2022.

HKEX

LME makes progress in reviving investor confidence after nickel fiasco: CEO

The 146-year-old metal trading bourse is doing something every day to earn investors’ trust, CEO Matthew Chamberlain says. This includes a two-year action plan to revive its markets.

Matthew Chamberlain, CEO of London Metal Exchange, speaks during the LME Asia Metals seminar in Hong Kong on Tuesday. Photo: Bloomberg
HKEX

LME works with Chinese counterpart to launch EV battery metal contracts

The bourses, both owned by Hong Kong Exchanges and Clearing, are together studying the possibility of offering investors the chance to buy and sell contracts of lithium carbonate, nickel sulphate and cobalt, said Dong Feng, general manager of the QME.

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A worker checking lithium car batteries at a factory for in Nanjing in China’s eastern Jiangsu province. Photo: AFP
Banking & finance

LME to overhaul margins, introduce new nickel contract in market revamp

With its new “action plan”, the Hong Kong Exchanges and Clearing-owned bourse is seeking to rebuild investor confidence a year after chaos in nickel market.

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Banking & finance

Can HKEX-owned LME rebuild its reputation a year after nickel chaos?

The fallout from chaos in the nickel market last March has hurt volumes at the Hong Kong Exchanges and Clearing-owned London Metal Exchange and emboldened potential competitors as the bourse prepares to relaunch trading during Asian business hours.

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Commodities

Hedge funds sue London Metal Exchange for US$96 million over nickel rout

A group of hedge funds and traders are seeking about £80 million (US$96.2 million) from the London Metal Exchange and LME Clear for alleged losses tied to cancelled nickel contracts in March 2022.

Traders, brokers and clerks on the trading floor of the open outcry pit at the London Metal Exchange Ltd. (LME) in London on Monday, February 28, 2022. Photo: Bloomberg
Banking & finance

British financial watchdog opens enforcement inquiry into LME nickel chaos

The Financial Conduct Authority will investigate the London Metal Exchange’s conduct and controls after last year’s temporary suspension of nickel trading.

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Traders, brokers and clerks on the trading floor of the open outcry pit at the London Metal Exchange in London in February 2022. Photo: Bloomberg
Banking & finance

HKEX-owned LME should tighten rules to prevent further market distortions: review

The 146-year-old bourse said it was ‘committed to taking all the necessary steps’ to rebuild public confidence in its metals market, and would unveil an implementation plan in response to recommendations by consultant Oliver Wyman by the end of the first quarter.

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Commodities

Copper sell-off deepens to 20-month low on global recession fears

The decline comes amid ongoing concerns that China won’t recover quickly from Covid-related shutdowns and cascading US inflation threatens a recession in the world’s largest economy.

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