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LME margins adjusted

Tuesday, Jun 17, 2008
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LCH.Clearnet, which clears London Metal Exchange (LME) contracts, said it will cut initial margins on the alloy, NASAAC, zinc and lead contracts but raise them on the tin contract, effective close of business tomorrow (Tuesday, Jun 17).

The following table shows the new initial margins, expressed in US$ per lot of metal, compared with the previous:

Metal

New Margin ($/lot)

Previous Margin

Lot size (tonnes)

Al Alloy

3,180

3,740

20

Aluminium

4,700

4,700

25

Copper

15,000

15,000

25

Lead

7,000

8,250

25

NASAAC

3,400

3,880

20

Nickel

20,412

20,412

6

Tin

12,000

8,705

5

Zinc

6,250

7,900

25

Billet Far East

3,900

3,900

65

Billet Mediterranean

4,550

4,550

65

Source: Metals Insider

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