The London Metal Exchange has defended its decision to raise fees.
The exchange hit back after a letter was circulated which challenged the decision last month to raise trading fees.
Three exchange Category 1 members, who are entitled to trade in the ring, questioned the need to raise fees which they feared could lead to a fall in trading volume.
The three, Gavin Prentice, managing director of Marex Spectron, James Land, managing director of Amalgamated Metal Trading and Michael Overlander, chief executive of Sucden Financial claimed there had not been enough consultation ahead of the decision.
"We believe a more comprehensive and structured canvassing of ALL...