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.