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Industrial|Platinum
Industrial|Platinum
industrial|platinum

LME to stop holding price-setting PGM auctions for the LBMA next year

Platinum bars

Photo by Reuters

20th November 2025

By: Reuters

  

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The London Metal Exchange (LME) will stop administering auctions that set platinum and palladium prices for the London Bullion Market Association next year so it can focus on its core base metals market, the exchange said on Thursday.

The exchange, the world's oldest and largest market for industrial metals, said the LME would stop the auctions in platinum group metals around the middle of 2026.

"Given our strong growth profile and ambitious market development plans in our base metals markets, the PGM auctions no longer represent a core activity for us," said Jamie Turner, LME head of trading.

“LBMA would like to thank LME for the efficient and effective running of the platinum and palladium auctions for over a decade," said LBMA CEO Ruth Crowell.

"We are also committed to a smooth transition to a new provider, details to be announced in January 2026.”

The LME is owned by Hong Kong Exchanges and Clearing.

Edited by Reuters

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