The London Metal Exchange has closed its open outcry trading floor and is using its electronic trading platform for price discovery as a precautionary measure amid the novel coronavirus (2019-nCoV) pandemic.
The only other time the 143-year-old metals exchange temporarily closed was during World War II, when - in the absence of electronic trade - the venue was forced to shut entirely.For traders on the floor, the eleven companies that own them, and the vast number of industrial companies that they serve, the decision has fueled concern that LME price discovery will...