SINGAPORE WELCOMES NEW LME ALUMINIUM CONTRACT MOVE
Singapore welcomed the London Metal
Exchange's (LME) decision to list Singapore as a delivery point
for the LME's new dollar-denominated aluminium contract.
    Tay Thiam Peng, manager for international trading at the
Trade Development Board, said the decision would boost
Singapore's image as a major delivery port.
    "We hope this will encourage more metal traders to set up
shop here and that Singapore can become a delivery port for
other metals as well," he said.
    The new contract, to start trading on June 1, is LME's
first dollar-contract.
 REUTER
