Well that was not expected. The English decision to leave the EU on Thursday has been sending shock waves through the UK politics and economics. Fortunately the Bank of England’s intervention on Friday ensured market liquidity and as I write this post the financial markets seem to be settling down.
We will be revising our product pricing today on an internal exchange rate of 1.20 Euros to the £ for July and will revising our pricing if there is any significant movement from the current 1.21 market rate.
The delay in LME market data means that we will not be able to update our LME data until tomorrow.
The fall in value of £ against the $ creates opportunities for us as an exporter and we will be expanding our export marketing to $ trading countries.