The London Metal Exchange (LME) has a new chairman. John Wolff, currently vice-chairman of the commodities exchange and one of its committee members from 1979 on, was recently elected to the position. Wolff, a director of commodity broker Rudolf Wolff, part of the Noranda group of companies, replaces Christopher Green, the former chairman of Cerro Metals.
In 1989, LME operations handled about 240 million tons of metals worth about $960 billion. LME metals prices are known to play a role in most, if not all, base metals contract negotiations around the world.
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