The London Metal Exchange (LME) has announced that it will launch two minor metals contracts in the second half of 2009 for molybdenum and cobalt.
The contracts were approved for launch at the LME board meeting on September, 4.
LME said that once launched, the contracts will offer all the benefits of an exchange traded product, allowing participants access to a transparently derived price and the ability to manage price risk.
Molybdenum and cobalt are derived from copper and nickel respectively, non-ferrous metals already traded on the LME.