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LME to Delist Plastics Contracts Because of Insufficient Volumes
9:27 AM MDT | October 20, 2010 | Natasha Alperowicz
The London Metal Exchange (LME) says it will delist all plastics contracts and that the last prompt date for all existing contracts will be Friday 29th April, 2011. The exchange has decided that the costs of withdrawing outstanding warrant from the LMEsword depository will be waived. Current open interest for all plastics contracts is 228 lots, out to March 2011, the LME says. Plastics futures trading was introduced on the LME on 27th May 2005, starting with linear low-density polyethylene and polypropylene. Despite a nubmer of changes to the contracts and the...
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