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06 October 2009
London - The London Metal Exchange (LME) has listed its first minor metals brand – Vale Inco Electrolytic Cobalt Rounds from Canadian producer Vale Inco Limited – for delivery against the LME’s new cobalt contract.
LME contracts for minor metals are due to launch on February 22nd 2010 and will provide transparent pricing and risk management tools for the cobalt and molybdenum industries.
Cobalt and molybdenum are by-products of metals already traded on the Exchange but until now there has been limited opportunity to manage risk in the minor metals sector.
“Registering brands is a crucial element to the contract launch and it’s a positive sign that producers in both industries are participating in the process,” said Liz Milan, Commercial Director at the LME.
The LME’s physical operations department is also assessing a number of applications from other producers in both the molybdenum and cobalt industries.
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For full details of the contracts, please visit www.lme.com/minormetals or contact:
Stephen White
Business Manager Corporate Affairs, LME
t. +44 (0)20 7264 1701 / +44 (0)7980 661 724
e. stephen.white@lme.com
Chris Evans
Business Manager for Minor Metals, LME
t. 44 207 264 1735
e. chris.evans@lme.com
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