The 16th Arab International Aluminium (Arabal) conference kicked off yesterday with a virtual tour through the London Metal Exchange (LME) and a physical tour of the Qatalum plant at Mesaieed Industrial City.
The conference began with a workshop presentation in front of 200 Arabal delegates by Martin Abbott, CEO of the LME, the world’s premier non-ferrous metals market.
LME offers a range of futures and options contracts for non-ferrous, minor metals and steel.
Abbott highlighted the mechanisms and techniques used in the LME, gave his review on market reality and presented market analysis from a historical point of view as well as future prospects.
As well as detailing the crucial hedging role the LME pays, he discussed controversies surrounding aluminium storage and updated delegates on the current ownership status of the LME.
He said that more than 80% of all non-ferrous metal futures business is transacted on LME platforms.
The panel discussions will begin today on such topics as ‘the Future Prospects of the Aluminium Industry in the GCC,’ ‘the Economic Impacts of the Arab Spring;’ ‘The Future Prospects of Expanding Local Use and Creating Local Demand;’ and presentations on ‘Reshaping the World Aluminium Balance’ and ‘Power Plant - Challenges, Difficulties & Experiences.’