LME considers separate delivery rates
Oct 02, 2012 | 03:07 PM
| Andrea Hotter
Tags
LME,
warehouses,
load-out rates,
aluminum,
copper,
lead,
nickel,
tin
zinc
NEW YORK — The London Metal Exchange is considering implementing separate warehouse delivery requirements for individual metals so customers with material in locations storing large tonnages do not have to wait months for deliveries, people familiar with the situation told AMM sister publication Metal Bulletin.
The proposed rule change is a response to the continuing controversy surrounding the exchange’s warehousing rules.
The long queues to obtain metal—a result of financing deals—have divided the market, with some arguing that they are a symptom of low interest rates, contangoes and surplus production. Others, including aluminum producer executives at Metal Bulletin’s aluminum conference in Moscow last month, contend that the queues have distorted the market.....
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