Metal exchange in plastics push

The London Metal Exchange (LME) has begun a PR offensive ahead of the launch trading of its plastics futures contracts.

LME has hired Consolidated Communications to handle the campaign, which is to target plastics producers, consumers and intermediaries in the US, Europe, the Middle East and China.

LME director of corporate comms Anna Campopiano said LME had brought in PR support specifically for its two plastics futures trading contracts because the new market would require a high level of awareness to be successful.

Consolidated’s PR push is to target all levels of the international plastics market through the international financial press, such as the South China Morning Post, Straits Times and the Financial Times.

LME is the largest non-ferrous metal futures and traded options exchange. The standard price it sets for these commodities is used as a global benchmark.

The exchange hopes to launch the first successful plastics futures market in May next year, when contracts for futures in polypropylene and linear low-density polyethylene will be launched.

Previous attempts at starting a plastics futures exchange have foundered on concerns about lack of anonymity for participants.

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