Commenting on this announcement, Simon Heale, LME Chief Executive said: “I am delighted to see these organisations listing their brands and warehouses for the LME plastics contracts. We believe this will provide excellent global coverage across all LME delivery locations and will help to ensure liquidity on launch, thereby enhancing the success of the LME’s plastics futures contracts”.
A list of approved producers and warehouses is included below.
Background
- The LME will launch futures contracts for both polypropylene (PP) and linear low density polyethylene (LL) on 27 May 2005.
- Both contracts will be traded:
- simultaneously in open outcry via two five-minute ‘Rings’: 12.20 and 15.55, plus two kerb sessions
- via the electronic trading system ‘Select’ between 07.00 and 19.00
- 24 hours via the LME’s inter-office telephone market
- The LME is the world’s premier non-ferrous metals market. It has highly liquid contracts and a turnover value of some US $3,500 billion per annum. It is a major contributor to the UK’s invisible earnings, responsible for more than £250 million in overseas earnings each year.
Polypropylene (PP)
| PRODUCER | HQ LOCATION |
|
The Dow Chemical Company |
USA |
|
Innovene Europe Ltd |
UK |
|
Chemopetrol a.s. |
Czech Republic |
|
Thai Polypropylene Co Ltd |
Thailand |
|
Reliance Industries Ltd |
India |
Linear low density polyethylene (LL)
| PRODUCER | HQ LOCATION |
|
The Dow Chemical Company |
USA |
|
Innovene Europe Ltd |
UK |
|
Thai Polyethylene Co Ltd |
Thailand |
|
Reliance Industries Ltd |
India |
Approved Warehouses
| WAREHOUSE COMPANY | LOCATION |
|
C. Steinweg-Handelsveem BV |
Rotterdam |
|
C. Steinweg-Handelsveem (FE) Pte Ltd. |
Singapore |
|
Henry Bath Singapore Pte Ltd |
Singapore |
