As processors and buyers seek better prices through private transactions, London Metal Exchange recorded a drop in plastics trading for the third consecutive month. The LME handled 817 futures contracts in polyethylene and polypropylene in August, as against the 1,060 contracts in July and 1,528 in June- a 23% fall this month.
Plastics trading on the LME amounted to $23 million in July, compared with $138 billion for aluminum. The LME seems prepared for the initial slow growth and is optimistic about the plastics exchange. The LME started plastics trading in May to lure new users and increase earnings. The contracts in LLDPE and PP, were introduced by the 128 year old LME after requests from traders and consumers.
12-Sep-05 
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