London, 21 May 2010

At 08:31 GMT today, one lot (six tonnes) of 3 month molybdenum was traded on LMEselect at a price of $36,000 per tonne, taking the total amount of minor metals traded at the London Metal Exchange past the USD$100m mark.

This milestone has been reached in just under 3 months since the Exchange launched the world’s first exchange-traded futures contracts for cobalt and molybdenum on 22nd February earlier this year.

“This is an important milestone for the contracts. It’s been an encouraging start to trading in the soft launch phase of the contracts and now that cash trading has begun, we hope to maintain progress,” says Chris Evans, LME’s Head of Business Development.

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