The London Metal Exchange delayed the start of trading on Friday following a technical malfunction. No timeframe for when trading might resume has been provided, resulting in temporary suspension of activity across the platform, according to a Bloomberg report.
According to a notice sent to LME brokers, Friday’s scheduled market opening was postponed due to unresolved technical difficulties. The LME, recognized as the principal global venue for industrial metals derivatives, operates markets for a broad range of contracts including futures, options, and forwards. Products traded span base and precious metals such as aluminum, copper, zinc, nickel, and tin, as well as cobalt, molybdenum, and steel alloys.
The Exchange facilitates price discovery for these commodities both electronically and through traditional open-outcry methods, as well as telephone trading. In addition to its own trading operations, the LME also partners with the London Platinum and Palladium Market to oversee and disseminate pricing for LBMA Platinum and LBMA Palladium.
