Here comes the third instalment of Geoffrey Sambrook's fictional trading tale.

Copper and nickel are expected to be the bull markets for 2017 despite their comparatively poor year-to-date performances, delegates said at Macquarie Research's LME Week Base Metals Outlook Seminar.

The London Metal Exchange needs to boost liquidity by further reducing its trading fees, fight back against over-regulation and ensure its own rules don’t disadvantage market users, particularly in the area of high frequency trading, the co-founder of Red Kite Group said.

Copper cathode producers and buyers are discussing more alternative options for next year’s long-term contracts after contractual volumes sold during the past two years have shrunk, market participants told Metal Bulletin.

Codelco is committed to being “reasonable” with its 2017 copper premium offer to China and will lower the benchmark to a level that is closer to the spot market, senior commercial vp Rodrigo Toro told Metal Bulletin.

The CME is snapping at the heels of the London Metal Exchange in the copper market, with the gap in trading volumes between the two exchanges narrowing this year.

Anglo American plans to continue to exercise discipline in its asset disposal programme and remains in negotiations for further sales, the company’s ceo said.

Privately-owned commodities trading firm Levmet has opened a new London office to help facilitate its growing trading activities.

The London Metal Exchange is partnering with Henry Bath for the launch of a pilot programme for LMEshield in China, the exchange said.

The London Metal Exchange is continuing to review incentive schemes put in place as part of its Liquidity Roadmap, designed to increase electronic trade on the LME. But criticism the schemes have failed is unfounded, LME ceo Garry Jones argued.