July 8, 2019 / 10:57 AM / in 15 days

HKEx to launch dollar-denominated London metal mini futures on Aug 5

BEIJING, July 8 (Reuters) -

* Hong Kong Exchanges and Clearing (HKEx) said on Monday it would start trading in six dollar-denominated London metal mini futures on Aug. 5.

* The monthly cash-settled contracts, whose impending launch was first flagged in May, will be available in aluminium, zinc, copper, nickel, tin and lead, HKEX said in a statement on its website.

* The mini contracts are smaller than the base metal contracts traded on the HKEx-owned London Metal Exchange (LME), with copper, aluminium, zinc and lead in five tonne lots and tin and nickel both in one tonne lots.

* The contracts will complement existing London metal mini futures denominated in offshore yuan, HKEx says; those will be renamed as “CNH London metal mini futures” on launch of the dollar products.

* The dollar minis will “provide trading opportunities for investors that have exposure in US dollar-denominated base metals in the Asian time zone,” said Dennis Zhang, HKEX’s head of commodities development. (Reporting by Tom Daly Editing by Keith Weir)

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