“We are living through unprecedented times and a great deal of uncertainty. The coronavirus pandemic has meant it is essential to limit social contact and avoid large gatherings,” Triland chief executive office Martin Pratt said on May 26.
“It is also clear that global travel will be severely restricted for some time to come. Although some of the lockdown measures may have been lifted by October, we think it is important to adopt a very cautious approach. For this reason, we have made the decision not to go ahead with the event.”
London Metal Exchange Week, the largest annual gathering of metals and mining figures in the world, is set to begin on Sunday October 18.
Sources expect the LME Metals Seminar, which is due to take place on Monday October 19, to be held virutally, Fastmarkets was told.
The LME’S flagship dinner is due to be held on Tuesday October 20, but is also in doubt, sources said. The LME has not yet made a formal announcement on this but told Fastmarkets they are evaluating all their events.
“Given the backdrop of Covid-19, we are evaluating all our events due to take place over the next few months, particularly LME Week,” a LME spokesperson said.
“Where postponements or cancellations are put in place, we will inform the market with all relevant details, ensuring we provide as much notice as possible. The safety of our staff, customers and colleagues in the global metals community continues to be our number one priority.”
The coronavirus outbreak also led to the cancellation of the LME Week Asia dinner and the postponement of the seminar, which were set to take place on May 6.
Market participants told Fastmarkets they expect all other members to follow Triland and also cancel parties and physical events scheduled for LME Week.
