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Many of the exchange's shareholders are stand-alone metal trading firms that could face increases in trading fees if the exchange is sold.
Some analysts, including William Adams of fastmarkets, said the company name was familiar among metal trading firms but few details circulate about how the company made its money.
Mr. Bagri, who was born in Kolkata, had come to London from India to set up a British office for the Indian metal trading company Metal Distributor, which he joined as an apprentice at the age of 15.
Still not tallying Pretty polymers Relegation ahead The golden spigot Taxing the poor to pay the poor Reprints Related items Metal trading: Ringing the changesSep 7th 2000Reaction in the industry has been mixed, analysts say.
Prices stabilized on Thursday, with copper, the most widely used industrial metal, trading at $2,657 a metric ton on the London Metal Exchange, down from $3,100 in late March.
True to his focus on cost-cutting, Mittal says that the new site (which he calls a "global procurement portal") will make metal trading faster and cheaper by directly linking buyers and sellers across the world.
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Futures of the precious metal, traded in New York, fell in light trade.
Sheffield, he notes, makes more from its universities than its metal trades.
This scrap metal trade is one of the main causes of UXO-related injuries and fatalities in Laos.
His grandfathers (a strong influence) both worked in the metal trades and were committed to the labour movement and trade union politics.
While textiles remained the state's primary industry, a host of other industries emerged in the metal trades, including machine-tool and textile-machine manufacturers.
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