LCH.Clearnet cuts margins for LME aluminium, nickel

LONDON, March 8 (Reuters) - LCH.Clearnet will cut the initial margin for aluminium, nickel, lead and tin futures traded on the London Metal Exchange.

The new margins will be effective from close of business Wednesday, March 10, it said in a release last week.

Following are new and previous margin levels.

Metal             New margin  Previous margin  Number of tonnes 

                     per lot            per lot               in a lot

                        $                    $

Aluminium          3,750        4,000                 25  

Nickel                11,700       12,600               6  

Lead                   5,875        6,250                 25 

Tin                        8,000        9,000              5

(Reporting by Pratima Desai; editing by Anthony Barker)