On September 29, the London Metal Exchange (LME) launched extended prompt dates for primary aluminium, copper grade A, special high grade zinc, primary nickel and standard lead contracts.
Primary aluminium and copper grade A, now trading out to 10 years, become the world's furthest forward, physically delivered, exchange-traded commodity futures contracts. Special high grade zinc, primary nickel and standard lead will be traded out to 5 years.
Commenting on this announcement, Martin Abbott, LME Chief Executive said: "The extensions of the prompt dates are the culmination of a long period of research and analysis by the LME. There is already significant OTC activity in these contract prompt dates. Bringing this activity into the LME environment will give market participants the increased flexibility of greater transparency, access to liquidity and the benefit of risk management that clearing offers."