LME CLARIFIES NEW ALUMINIUM CONTRACT DETAILS The London Metal Exchange (LME) has issued a note clarifying details on its new high grade aluminium contract, in response to questions from members following the announcement of the contract, due to start June 1. All deliverable shapes of aluminium under the high grade primary aluminium contract (minimum 99.7 pct purity) will also be deliverable against the standard primary aluminium contract (min 99.5 pct), the LME said. Sows will not constitute good delivery against the standard contract until September 1, and 99.5 pct purity sows are not good delivery and cannot be placed on LME warrant. The dollar quotation for the high grade contract will be in multiples of one U.S. Dollar but carries may be made at 50 cents for even tonnages only. Singapore, which is the first port warehouse outside Europe to be used as an LME delivery point, will be used for high grade metal only and the rent imposed by owners Steinweg will be 1.05 U.S. Dlr a tonne per week, the LME said. The LME Board, in response to representation from the trade, agreed to annul from LME contracts the minimum weight requirements of 450 kilos for T-bars and 250 kilos for sows, effective for high grade on June 1 and for standard on July 24.