Once already this year traders in London have been dragged out of bed at 1am when copper plunged in Shanghai. That could happen more often and to more drowsy Londoners as SHFE adds two new contracts — nickel and tin — that were long the preserve of the London Metal Exchange only.
Metals volumes on the SHFE, which was launched in 1999, have been increasing over the past few years.
Last week’s launch of the new contracts takes its offerings in industrial metals to six, equal to those traded on the LME, the world’s largest centre of metals trading. The LME was bought by Hong Kong Exchanges and Clearing for £1.4bn in 2012.
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