MANICALAND COLLEGE OF APPLIED SCIENCES

MINING AND MINERAL PROCESSING ENGINEERING DEPARTMENT

NAME ; KUDZAI CHIKWANHA

REG NUMBER ; R143722C

MODULE ; MARKETING AND TRANSPORTATION OF MINERALS

LEVEL ; 5.1

ASSIGNMENT ;1

LECTURER ; MR TOGA
THE METAL EXCHANGES (LME, SME AND COMEX)

London was founded in 1877 and partnered with Hong Kong Exchanges and clearing on the 6th
of December 2012.It is the future’s exchange with the world’s largest markets in options and
future contracts on base and other metals. Commodities traded are: Aluminium, aluminium
alloys, cobalt, copper, lead, molybdenum, nickel and steel etc. Contracts on metals listed on the
LME are traded through an LME member. Trading is done on trading platforms which are;the
Ring, Inter-office telephone LME Select, the exchange’s electronic trading platform. Prices are
derived from the most liquid periods of trading; the short open-outcry ring trading sessions, and
are most representative of industry supply and demand. Precious metals, gold and silver, are not
traded on the London Metal Exchange, but on the London Bullion Market, by the members of
the London Bullion Market Association, Platinum and palladium are traded on the London
Platinum and Palladium Market.

SHME enable traders across the world to have 24 hour access to features contracts of non-
ferrous metals due to its geographical location which bridges the time gap between LME and
New York Mercantile. The securities listed at the SHME include the three main categories of
stocks, bonds and funds. The SHME is open for trading starting with futures in copper,
aluminum and rubber.

COMEX was established 1993 in New York through the merger of four small exchanges — the
National Metal Exchange, the Rubber Exchange of New York, the National Raw Silk Exchange,
and the New York Hide Exchange. COMEX serves as the primary exchange for trading
Aluminum, Copper, Gold, Platinum, Palladium, Silver and Steel. Contracts may be standard in
size, or micro versions may be traded. Rather than selling actual base metals or Precious Metals,
COMEX deals in Gold futures, Silver futures and similar products. world’s largest physical
commodity futures exchange.

OPEC's objective is to co-ordinate and unify petroleum policies among Member Countries, in
order to secure fair and stable prices for petroleum producers; an efficient, economic and regular
supply of petroleum to consuming nations; and a fair return on capital to those investing in the
industry. On two occasions, oil prices rose steeply in a volatile market, triggered by the Arab oil
embargo in 1973 and the outbreak of the Iranian Revolution in 1979.
REFERENCES
1. "Futures Contract Specifications". London Metal Exchange.
2. Northedge, Richard (2007). "130 years of the LME" (PDF). LME 130th Anniversary
Supplement. Newsdesk Communications. Archived from the original (PDF) on 31 October
2014.
3. "LME achieves another year of record volume". London Metal Exchange. 5 January 2009.
Archived from the original on 1 April 2009.
4. Sanderson, Henry (24 March 2017). "London Metal Exchange debates its future". Financial
Times.
5. Fred D. (1996). Derivatives: A Comprehensive Resource for Options, Futures, Interest Rate
Swaps, and Mortgage Securities. Boston: Harvard Business School Press. ISBN 0-87584-
560-6.