The London Metal Exchange is suspending the trading of all prompt dates from December 2021 onwards on its cash-settled alumina futures contract with immediate effect, it said on Friday April 23.
The LME alumina contract was launched on March 11, 2019 and settled against Fastmarkets MB's benchmark daily fob Australia alumina index in a basket alongside CRU's alumina index. Equal weighting was given to each index."From December 2021, one of the indices that is used to settle the LME Alumina CSF Contract will no longer be supplied to the LME and, consequently, the LME intends to offer an Alumina Cash-Settled Futures Contract which will settle against a single index," the...