INTERVIEW – GARRY JONES: LME not losing ‘physical trader’ volumes to CME, SHFE

摘要

The London Metal Exchange has come under fire since it was revealedthat its trading volumes fell last year, while those reported for itsindustry peers in China and the USA increased.But its ceo Garry Jones is unfazed, and suggests the difference incore users of the various exchanges mean a comparison isinappropriate.“The LME is a better barometer of the real physical market activitythan CME Group or Shanghai Futures Exchange. If you ask physicalmarket players how many transactions they did last year versus 2014,the answer is less in pretty much every case. Are they selling assets?Yes. Are they closing mines? Yes. Are they letting people go? Yes,”Jones said.