LME expands to include plastics futures
by Brian Turner
The London Metals Exchange, which has only traded nonferrous metals it the 128 years of its existence, made history as it began trading plastics futures on Friday.
The exchange added polypropylene (PP) and linear low-density polyethylene (LLDPE) contracts to its portfolio. Trade was light, as it was expected to be on the first day.
September PP opened at $970 pr tonne and finished down at $933.50 per tonne, which was below the $955/985 spread Sempra Metals had quoted on Thursday. LLDPE opened at $965 per tonne and ended the day at $935 per tonne.
In the metal markets on Friday copper and aluminium oil both showed gains for the week. Aluminium was up as well, rising 1.4 percent on the week to $1,745 per tonne on falling inventories.
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