伦敦金属交易所指南

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1、AGuidetotheLMEContents2LondonMetalExchange–SettingtheGlobalStandard4Priceriskmanagement–theperfecthedge6Theworld’spriceformationvenue–what’sinaprice?8Warehousing,brandingandpriceconvergence–thephysicalmarketoflastresort10Thecontractsandthemetals–today’sinnovation,tomorrow’sstandard14T

2、rading–unparalleledopportunitytotransferortakeonrisk16OtherservicesAGuidetotheLME

3、1Over80%ofglobalnon-ferrousfuturesbusinessistransactedonourplatformsLondonMetalExchangeSettingtheGlobalStandardTheLondonMetalExchangeistheworldcentreforAnnualTradingthetradingofindustrialmetals–morethan8

4、0%ofallnon-ferrousmetalfuturesbusinessistransacted$15.4onourplatforms.trillionnotionalTheLMEbringstogetherparticipantsfromtheTheExchangeprovidesproducersand3.5physicalindustryandthefinancialcommunityconsumersofmetalnotonlywithaphysicalbilliontonnestocreateavital,robustandregulatedmark

5、etmarketoflastresortbutalso,perhapsmostwherethereisalwaysabuyerorseller,whereimportantlyofall,withtheabilitytohedge147thereisalwaysapriceandwherethereisalwaysagainsttheriskofrisingandfallingworldtheopportunitytotransferortakeonrisk–metalprices.millionlots24hoursaday.It’swhatwe’vebeend

6、oingsince1877.LMEnon-ferrousmetalsInvestorsvaluetheLMEasavibrantfuturesexchangebutalsoforitscloselinkstoindustry.trade40timesworldThepossibilityofphysicaldeliveryviatheproductionworld-widenetworkofLME-approvedwarehousesmakesittheperfecthedgingvenueforindustryandtheworldgainsabenchmark

7、pricetheytrust.2AGuidetotheLME

8、3PriceriskmanagementtheperfecthedgeTheLMEisameetingplaceofbuyersandsellersofmetalfutures.Itprovidesproducersandconsumersofmetalaroundtheworldwiththebestwaytomanagetheirexposuretotheriskcreatedbymetalpricevolatility.Producers(thosewhosellthemetaltheymineB

9、enefitsofhedgingandrefine)areatriskofpricesfalling,and•Protectagainstpricemovementsconsumers(thosewhobuyandmakethings•Lockinmarginsandofferlong-termfrommetal)areatriskofpricesrising.fixedpricestocustomers•ImprovebudgetforecastsHedgingagainstthesepricemovements•Turninventoryintocashors

10、ecuri