Fill In the Blanks

Almost everyone has heard of the London Stock Exchange, but relatively few know anything about the London Metal and Commodity Exchanges - yet these markets have a greater influence on world economies because they set global prices for some of the essential raw materials for industry and food manufacture .

The LME provides three basic services to the world's non-ferrous metal trade. First, it is a market where large or small (4) quantities of metal of a guaranteed minimum standard can be bought and sold on specific trading days. Second, it acts as a barometer of world metal prices. And third, it is a “hedging” medium: that is, it can help traders get some protection from price fluctuations that occur for economic, political or financial reasons.