The proposals included in the London Metal Exchange's discussion paper would not serve the needs of the physical market and could have a negative impact on copper and copper alloy semis-fabricators, the International Wrought Copper Council (IWCC) said.
Mark Loveitt, IWCC president and director, said the association is not opposed to change but believed the proposals would not achieve the LME's stated objective of supporting the requirements of its physical users."Little has changed in the physical business in the past four years to cause the LME to relaunch proposals that had been recently dismissed," the IWCC said. "It is...