London Metal Exchange, the world centre for trading industrial metals, is closing their iconic trading and moving to swanky new premises.
Founded in 1877, the futures market moved from Leadenhall Street near Bank to Finsbury Square at Barbican when trading finished at 5pm yesterday (Weds). Having taken on 220 new staff over the past three years, LME has spent the past 21 years at their Leadenhall base. More than three quarters of all non-ferrous metal futures business is transacted through LME, which equated to £8.3 trillion - and four billion tonnes - last year alone. The whopping amount of metal weighs a thousand times more than the entire population of the world put together.