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.

As LME Week gets under way, Metal Bulletin presents a fictional tale set in the metals trading industry by Geoffrey Sambrook. Chapters II-VII will be published this week.

Copper cathode exports from China have reached historical highs in 2016, powered by the government’s decision almost eight years ago to resume issuing copper concentrate tolling licences and thus facilitate the import of raw material and the export of metal.

The London Metal Exchange, the world’s largest non-ferrous metals market, marked its 139th year of existence by moving to a new headquarters in February, although the relocation did not take place without a major hiccup in the summer.

The London Metal Exchange moved to new premises earlier this year, cutting the ribbon on its fourth bespoke trading floor. But with ring-dealing member (RDM) numbers unchanged at nine from this time last year, the new mini-sized ring represents something of a downsize.

Copper inventories on the London Metal Exchange look set to rise sharply from January, as lower contractual premiums for 2017 will make the business of cancelling incoming material and shipping it to China uneconomical, market sources believe.

Nearly three years after the London Metal Exchange took action to get the record volumes of aluminium backed up in its global warehouse network flowing out into the physical market, exchange users have warned that low LME inventories are making the market vulnerable to squeezes.

The price trend for all LME-traded base metals so far this year has been higher, apart from in copper.

Negotiations for benchmark treatment charges and refining charges (TC/RCs) for annual copper concentrate supplies in 2017 will start during LME Week, with a settlement widely expected at around $95-102 per tonne and 9.5-10.2 cents per lb – either side of this year's level.