UPDATE 1-LME to cut size of new steel contracts to boost liquidity

April 20, 2015 5:23 PM

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LONDON, April 20 (Reuters) - The London Metal Exchange (LME) plans to reduce the size of its new steel contracts to 10 tonnes from 100 tonnes to boost liquidity, it said on Monday.

The exchange, the world's oldest and largest market for industrial metals, plans to launch the new contracts in rebar and scrap steel in October.

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