London Metal Exchange (LME) held listed first molybdenum brands for deliveries under the new contract. According to a press release LME talking about roasted molybdenum concentrate produced by three companies of Molymet.
«We welcome these brands, which together with previous registrars, cobalt brands, will give impetus to the development of new contracts, the start of trading which is scheduled for February», — said Chris Evans (Chris Evans), LME new products manager.
Currently, LME is exploring the possibility of listing for a few more brands of molybdenum, and in the last few weeks of approved brands in the cobalt products produced by Vale Inco, Votorantim Metais Niquel, Sumitomo Metal Mining and Jinchuan Group.
LME plans to start trading contracts for molybdenum and cobalt February 22 next year.