London Metal Exchange Faces One-Hour Glitch
London Metal Exchange Faces Glitch as Copper, Zinc, Aluminum Prices Swing
The London Metal Exchange (LME), the world’s main metal trading market, experienced an operational problem that lasted for one hour during its Friday market opening. Traders had to wait without trading as copper, zinc, and aluminum prices fluctuated rapidly, creating short-term price movements before the market officially started. Speculators were highly active, trying to identify which traders were incurring losses while staying in their positions. LME officials remained silent about the incident, showing that even large organizations can face technological failures. Friday’s market activity proved that metal trading demands strong willpower from participants aiming to compete successfully.
Traders speculated on who might be facing losses after receiving notices from the LME.
A prolonged outage could have worsened problems for participants trying to exit positions.
Calls to LME officials in London went unanswered.
Hong Kong Exchanges & Clearing Ltd., the owner of LME, provided no immediate comment.
Trading outages at the LME are not uncommon.
Since 2022, after the nickel market short squeeze crisis, the LME has focused on reliability.
Regulations were overhauled after some trades were declared void.
| Metal | Price Movement After LME Outage | Previous Peak / Record High | Decline % |
|---|---|---|---|
| Copper | $13,000 per ton | Above $14,500 | 4% |
| Gold | N/A | Record High | Up to 11% |
| Silver | N/A | Record High | Up to 11% |
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