HKEX launches CPAL in Dubai to price sustainable metals

Hong Kong Exchanges and Clearing Limited (HKEX) has launched Commodity Pricing and Analysis Limited (CPAL) in Dubai as a new HKEX subsidiary to act as a commodities pricing administrator focused on the global metals market and to support the LME’s sustainable metal premia development.

• Main announcement/action: HKEX has established Commodity Pricing and Analysis Limited (CPAL) in Dubai, UAE; CPAL will serve as the pricing administrator for the sustainable metal premia and provide independent price reporting and market analysis dedicated to the global metals market. The LME (a wholly owned HKEX subsidiary) has published a discussion paper as the next step in developing sustainable metal premium pricing and CPAL will support that initiative (LME first announced the sustainable metal premia development in April 2025).
• Background and other details: Dubai ranked second globally in the Commodity Trade Index (last year) and is first in the GFCI for the Middle East & Africa and 11th globally (GFCI 38 published 25 September 2025). The announcement underscores HKEX’s strategic push to expand its commodities business and strengthen connectivity between China/Hong Kong and fast-growing markets in the Middle East.