NEWSBREAK: Triland to leave LME floor, become Category 2 member

August 11, 2021 / www.metalbulletin.com / Article Link

Triland Metals Ltd has resigned as a Category 1 member of the London Metal Exchange, ending almost 50 years as a ring dealing member of the exchange, the company said in a letter to its customers seen by Fastmarkets.

Company chief executive officer Martin Pratt said in the letter that Triland - a 100%-owned subsidiary of Japanese conglomerate Mitsubishi set up in 1971 to hedge against price movements in the metal markets - has applied to move to become a Category 2 member in the coming weeks.
This means the company will not be returning to the LME floor when it reopens for the first time on September 6 since being shut by Covid-19 in March 2020, which will reduce the number of Category 1 members to eight.

The...

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