Source: Adobe Stock/luzitanija
The London Metal Exchange is looking to make large positions more transparent and India is not applying its new steel quality standards to automotive imports. At least not yet.
LME Wants Transparent Reporting
The London Metal Exchange said on Thursday it’s seeking views from its members and other interested parties about the potential for more transparent reporting of positions above certain thresholds.
The LME monitors all positions held on its market, what it is proposing is a measure to put the onus of reporting any large positions on members.
India Sets New Steel Quality Standards
India imposed new quality standards on steel products sold in the country Thursday, but delayed bringing auto-grade steel imported by automakers under the purview of the new order by six months.
Indian automakers import about 1 million metric tons of high-tensile steel annually, mainly from Japan and South Korea, and had sought an extension to avoid disruption in production.