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LME China Expansion May Include Joint Ventures, CEO Abbott Says

The London Metal Exchange, the world’s largest metals marketplace, may form partnerships to expand operations in China as it seeks to establish its first warehouses in the country and add new contracts.

Hong Kong Exchanges & Clearing Ltd.’s takeover of the LME, which controls more than 80 percent of industrial-metal futures contracts, doesn’t mean it will have “a free pass” to grow in Asia’s largest economy, outgoing LME Chief Executive Officer Martin Abbott said. The LME plans to offer new commodities products in coming years, including some that will be tailored to the Asian market and designed for trading on Hong Kong’s platforms, Abbott said, without providing further details.