The announcement was made during the LME’s India roadshows which it undertook as a strategic move to ‘push into India as base metals consumption increases in the region and more Indian metals companies look to manage their price risk’, the exchange stated, as per reports.
The Exchange is also considering launching contracts for more ferrous products and regional premium contracts.
Citing the long held relation with India’s metal industry, LME expressed hopes to increase ‘participation and widen its customer base’ for which it is meeting with market participants in India and informing them on metals price risk management tools, reports add.
The LME is part of the Hong Kong-based HKEx Group.
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