The London Metal Exchange (LME) board examined non-binding bids for the world's biggest marketplace for industrial metals on Thursday, but a partial climbdown on plans to charge a controversial new trading fee could threaten the sale.
Some potential buyers have been watching how the LME deals with the dispute over the fee, as revisions are expected to dent projected extra revenue included in the valuation given to bidders.
The 135-year-old institution, where metals including copper, aluminium, nickel and zinc are traded by open outcry as well as electronically, said it would delay introduction of the new fee from the previously announced March 1 until July 2. It will also scrap it for certain heavily traded spreads. . .View Full Article