The seminar will likely be attended by round 850 delegates this yr, a quantity much like final yr, whereas the dinner on the Grosvenor Home in London’s Mayfair district is predicted to welcome 1,700 folks, unchanged from 2023, the LME mentioned.
Nonetheless, an overlap of the occasion with China’s golden week vacation means the Chinese language delegation will likely be smaller than final yr, in response to metallic brokers with shoppers on the planet’s largest marketplace for industrial metals.
“Numbers for our Chinese language company are down from final yr,” one dealer at a metals dealer with a big Chinese language consumer base. “LME Week is unusually early this yr.”
A senior dealer at a LME dealer mentioned: “Golden week is every week lengthy household vacation, so executives are extra compelled to stick with their household. It’s also Jewish New 12 months on Wednesday, which has additionally brought about a couple of grumbles.”
LME Week would usually be timed for the second or third week of October to keep away from overlap with the Chinese language vacation and historically, Jewish New 12 months festivities, which this yr span Oct. 2-4.
“LME Week dates are chosen years upfront, and we endeavour to take account of holidays, every other business occasions, and venue availability,” the LME mentioned in response to a request for remark.
“This yr’s occasion falls unusually early and sadly overlaps with some vacation durations; nevertheless, we’re happy that this has not impacted attendee numbers, with the LME Dinner and China Reception at capability, and the Metals Seminar near promoting out.”
The China reception on Monday, Sept. 30 is by invitation solely. It has not been held since earlier than the Covid-19 pandemic.
The London change is owned by Hong Kong Exchanges and Clearing.
(By Pratima Desai; Modifying by David Evans)