LCH.Clearnet cuts LME aluminium and steel margins

LONDON, April 23 (Reuters) - LCH.Clearnet said on Thursday it had trimmed initial margins per lot for aluminium, steel and nickel futures contracts traded on the London Metal Exchange. The new margins will be effective from the close of business on Wednesday April 29. Below is a table showing the changes. Contract New Margin per lot($) previous Lot size Aluminium 3,750 4,000 25 tonnes Med. steel billet 4,550 5,395 65 tonnes Far East steel billet 4,290 4,745 65 tonnes Nickel 12,600 14,400 6 tonnes Tin 8,500 10,000 5 tonnes