London Metal Exchange.

I found this post on the Telegraphs website and it will be linked back to their website.

Telegraph London Metal Exchange Web Post.

But I thought this was quite interesting, about when the London metalexchange started and whats happening with it today.

The London metal exchange dates back as far as Queen Elizabeth I.

1571: The origins of the London Metal Exchange (LME) can be traced to the opening of the Royal Exchange in London during the reign of Queen Elizabeth I, when traders in a range of commodities begin to meet on a regular basis.

1800s: By the early 19th century there are so many commodity traders using the Royal Exchange that it becomes impossible to do business. Individual groups of traders set up shop in the nearby city coffee houses.

The Jerusalem Coffee House, becomes a favourite of the metal trading community, where “the tradition of the Ring” is born. A merchant with metal to sell draws a circle in the sawdust on the floor and calls out “Change!” at which point those wishing to trade would assemble around the circle and make their bids.

1869: The opening of the Suez Canal reduces the delivery time of tin from Malaysia and Singapore to match the three months delivery time for copper from Chile. This gives rise to LME’s unique system of daily trading dates for up to three months forward which still exists today.


1877: Merchants form the London Metals and Mining Company move into their first premises over a hat shop in Lombard Court. The London Metal Exchange is born. Membership increases rapidly and they soon move to a purpose built Exchange in Whittington Avenue. The Exchange moves to its current home in Leadenhall Street in 1994.


2000: An index contract based on the six primary metals traded on the exchange is introduced. This is specifically designed to provide investors access to futures and traded options contracts based on non-ferrous metals without the extra costs entailed.


Today: LME trades the equivalent of $7.41 trillion annually and $29bn on an average business day. More than 95pc of its business comes from overseas.

Male pulled up over $2.6m metal theft.

When he stole the metal worth $2.6m, that was plain simple but his intention to sell it on was another story.

The metal which was nickel was stolen from Bailtimore Metal Importer in the amount of 100 tons.

Alan Verschleisser who works in a scrap yard, was arrested and charged because he was trying to sell the nickel and was charged under ‘possessing stolen goods from an international shipment’.

Rusty Davis,  of Pittsburgh-based S.H. Bell, said ”The shipping containers sat on top of trailers, and all the thieves had to do was cut a hole through a chain-link fence, hook up trucks to the chassis and drive away”.

“There’s a limited number of people that can use that nickel,” he said. Its owner “sent out an alert to the industry to be looking for any strange offers” Davis Added.

Titanium Kneecaps

A volunteer service called Operation Walk Pittsburgh have kindly given 3 people brand new knees, made from titanium. The patients have not had to pay any money towards these knees, nothing what so ever.

Medical director Tony DiGioia said ”Our goal is to do it every Thanksgiving from now on,” he said.

This year’s recipients consider it a fine idea for an annual event.

Take Susan Bates-Atallah, 62, of the West End. The arthritis in her knee was becoming unbearable and Debbie Wilson, 51, of Morgantown, W.Va., was in a similar fix.

Its amazing what metals can do now, and to form a knee and and knee cap is just.

titanium valley appears in mountains

Vladimir Putin has said that the government planned to create a “Titanium Valley” special economic zone in the Urals Federal District, which will cost up to $1.3 billion and will  produce items for the aircraft, automotive, shipbuilding and medical industries.

“We’ll issue a governmental decree in the coming two weeks on creating a special economic zone here with special benefits, including customs privileges,” Putin said during his visit to the Sverdlovsk region.

The economic zone will make “a new technological base” for thetitanium producer and let it to attract new clients.

It will create a total of 20,000 jobs, and documents will be provided by the Sverdlovsk region government ahead of Putin’s visit.

Russia to create ‘titanium valley’

Russia are creating a Titanium Valley economic zone around Avisma, which is claimed to be the world’s biggest producer in a hope to tempt in foreign companies.

Avisma isn’t very well known unless you live in Russia but is infact a large producer of Titanium.

It produces 25 percent of the world’s titanium, which is such alot in comparison to other places.

Titanium Valley is part of a bid to jump start the economic growth and form more jobs focussed on natural resources.

“It will give enterprises the opportunity to develop and produce value added products and also bring our partners here,” Putin said at VSMPO-Avisma’s core plant in Verkhnaya Salda, about 1,700 km east of the Russian capital.

Molybdenum Producers Essex

How did you find us? 

As if you search ‘molybdenum producers essex‘ we come up on the front page!

We are very happy that people can find us straight away, with simple words like that.

Let us know how you found us by commenting below?

Check out www.smfuk.co.uk and see what services and metals we have to offer.

Chinese molybdenum company buy mine rights

The nation’s second-biggest producer of molybdenum has agreed to purchase exploration rights for a mine in Xinjiang province for $157 million.

The rights can now be transferred from the producers Geological Institution unit, . 

The company can explore an area of 16.77 square kilometres  around a mine in East Gobi, Hami.

China last month kept next year’s export quota the same for molybdenum, which is used to make alloy steal tougher. 

The government may set up specific reserves for 10 metals including molybdenum.

Tantalum mine ban

A mining ban in eastern Congo is preventing the tin and tantalumindustry from completing an a deadline via america for “conflict minerals”.

The U.S. legislation wants Congo and its surrounding locations to show that exports have been found from conflict-free zones and routes by April next year.

“There is currently no legal mining activity to trace and the project funding, which relies on a levy on … exports, has halted,” said an emailed statement from ITRI, adding the pilot tracking scheme to track cassiterite (tin ore) from source to export now faced a $6 million shortfall.

“It is unlikely that all cassiterite from the region can be covered by the system in time and many current production areas will unfortunately as a result be subject to an effective embargo by next April.”

Christmas..

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As its only 51 days until christmas day, which is very scary and exciting and we wouldn’t want you to miss out.

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