Standard Chartered applies to join LME

LONDON, Oct 8 - Standard Chartered Bank has applied to join the London Metal Exchange, the LME said on Monday. The bank has applied for Category 4 membership, also known as Associate Broker membership, the exchange said in a statement. Associate broker members may issue LME contracts but are not members of the clearing house, nor may they trade in the open outcry sessions. Membership of the LME has become more popular among banks and trading houses in recent years as metals prices have soared. The LME hosts its annual dinner for the metals industry in London this week.