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Rare metals and rare earths
Rare earths of a lanthanum subset, or lanthanides, are applied in production of permanent magnets, in iron and steel industry and non-ferrous metallurgy, in nuclear, electronic, chemical and other industries. |
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Non-metals
Non-metals are chemical elements that form simple elements with no
metal-specific qualities. Non-metals typically include 22 elements: gases - hydrogen,
nitrogen,
oxygen, fluor, chlorine and inert gases; liquids - bromine; solids - boron, carbon,
silicon, phosphorus,
arsenic, sulphur,
selenium, tellurium, iodine, astatine. |
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History
The Romans invaded Britain and extracted the large deposits of copper and tin ore in Cornwall and Wales to satisfy their increasing domestic need for the production of bronze and alloys in AD43. International trade in metals could be said to have commenced in Britain then. The origins of the London Metal Exchange can be traced back as far as the opening of the Royal Exchange in London in 1571 during the reign of Queen Elizabeth I.
London Metal Exchange today
The London Metal Exchange makes a good benchmark for a world pricing on non-ferrous metals. An index contract -LMEX- based on six primary metals traded on the exchange was introduced in April 2000. The LME stockholders' equity equals 20 000 pound sterling and consists of 1 000 common shares at value of 20 pound sterling. The London Metal Exchange is also the biggest world's market for basic non-ferrous metals. Its annual turnover of US$3,000 billion makes about 10 percent of the whole non-ferrous metal production in the world.
Terminology
Futures contracts (futures) are contracts (agreements) on purchases (sales) of goods for a specified delivery date in the future at prices established today. Futures can end in a payment of a price difference without actual goods transfer.
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