FCStone Approved as Cat. 2 Member of London Metal Exchange

Intl. FCStone Inc. was approved for category 2 membership, associate broker clearing, of the London Metal Exchange, the exchange said in a notice to members.

OAO Magnitogorsk Iron & Steel, the Russian steelmaker, and and Metalliance LLP have been approved as category 5 members, according to separate notices e-mailed today. That boosted LME membership to 94 and category 2 membership to 27, Miriam Heywood, an LME spokeswoman, said.

Category 2 members have all the privileges of ring dealing members except that they may not trade in the ring. Category 5 members have no trading rights except as clients, according to the LME website.

The LME said in a separate notice it listed Port Klang, Malaysia, as a delivery location for tin.

To contact the reporter on this story: Agnieszka Troszkiewicz in London at atroszkiewic@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.