His data show the combined totals for LME and Comex were the most since 2003.
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The six LME base metals all hit multi-month highs somewhere between mid-September and early October.
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LME's futures contracts will enable companies to lock in plastics prices as much as 15 months ahead.
Meanwhile, inventories of copper in LME warehouses have risen to 475, 750 from 377, 550 at the end of 2010.
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While LME prices are not the actual realized prices for Alcoa, they do indicate a broader trend in global aluminum prices.
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HKEx introduced new fees at LME last year, replacing the subsidized charges levied by the traders who formerly owned the business.
Buying the necessary copper could prove equally difficult, since analysts estimate global exchange stocks amount to only 140, 000 tonnes, of which the LME holds 65, 000.
While the acquirer said that it can boost the target's business in China, there are concerns that HKEx would have to massively increase LME's business to justify the price paid.
One reason for the potential discrepancy is that LME prices may be affected more by financial flows, while the scrap side is not influenced as much by speculative money, he suggested.
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But even if the SRB decides to honour the transactions, it will be hard to move such a huge volume of copper to LME warehouses by next month, as required by the contracts.
Full commercialization of the LME is expected from 2015 onward, and HKEx plans to complete integration over the next year, including the introduction of its own clearinghouses and more services aimed at Asian clients.
Are they overvalued, or are LME prices undervalued?
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The increase in the LME copper stockpile has been particularly noticeable, more than doubling from around 210, 000 ton in September to a current level of 530, 000 tons, with most of the increase coming in the past two months, lifting the stockpile close to a five-year high.
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The price fall corresponds with a rise in the aluminum stockpile kept by the London Metal Exchange (LME) which was sitting close to a five-year high of 519, 000 tons in mid-February, but which has since slipped marginally to 517, 000 tons, indicating the that Chinese stockpile buying might have started when LME warehouses levels were approaching a peak.
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