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亚马逊云账号(www.2km.me)_The hottest party in the metals world is back, but much smaller

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The resumption of LME Week, when in past years many thousands have descended on London to cram into hotels, bars and nightclubs, is something of a test case for the return of large corporate events as the pandemic moves to a new phase. “It’s certainly the case that there are fewer events,” LME chief executive officer Matthew Chamberlain said

NEW YORK: Near-record copper prices are usually a sure sign that the parties will be extravagant and the champagne will flow all night when the metals world descends on London.

But with Covid-19 still raging across much of the globe, the famously rowdy annual gathering of traders, financiers and producers won’t be quite the same.

Several of the best-attended parties will be missing from this year’s London Metal Exchange (LME) Week, which is returning after skipping 2020 due to virus restrictions. And many regular attendees from Asia, the most important driver of metals demand, and from South America, the key mining region, are opting to stay at home.

The resumption of LME Week, when in past years many thousands have descended on London to cram into hotels, bars and nightclubs, is something of a test case for the return of large corporate events as the pandemic moves to a new phase.

“It’s certainly the case that there are fewer events,” LME chief executive officer Matthew Chamberlain said in an interview.

The week’s centerpiece event, a black-tie dinner hosted by the exchange that is normally attended by 2,000 people, is going ahead with a slimmed down 850 guests and larger gaps between the tables.

“We totally understand that some people may not feel comfortable attending, and it will be a smaller event for that reason and because of travel. But we don’t think that we’re off key,” Chamberlain said.

“The impression that I’ve got is that people are really looking forward to a good evening.” While daily Covid-19 infections remain relatively high in the UK, the government has lifted almost all restrictions and workers have been returning in growing numbers to the City of London in recent weeks.

However, many banks, brokers and miners – which typically throw their own parties for clients and contacts during LME week – have scaled back the festivities and are instead focusing on business meetings.

Triland Metals, a broker owned by Japanese trading house Mitsubishi Corp, usually puts on a spread of sushi and champagne for 1,000 people in the Dorchester hotel. But this year it called the party off, believing that it wouldn’t be possible to throw a good party that didn’t risk spreading Covid-19, according to a person familiar with the matter.

Freeport-McMoRan Inc, the largest publicly traded copper company, is sending a delegation of executives to negotiate supply contracts, but has canceled its annual party.

Many banks and consultancies, which typically present their views on the market to clients during LME week, have moved their events online.

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