LME rule change impact seen minimal
Nov 20, 2012 | 04:37 PM
| Daniel Fitzgerald
Tags
LME warehouse rules,
Detroit warehouse,
New Orleans warehouse,
primary lead,
special high grade zinc,
SHG zinc,
primary aluminum,
LME premiums
Daniel Fitzgerald
NEW YORK — Aluminum, lead and zinc market participants see only a minimal impact on supply and premiums if the London Metal Exchange adopts proposed changes to warehouse load-out rules, which are intended to alleviate queues for metal.
Under the latest proposals, which would go into effect in April 2013, warehouses that hold more than 30,000 tonnes of canceled material and have at least 30,000 tonnes of a single, "dominant" metal will be required to deliver out an extra 500 tonnes per day of metals other than the dominant one, if requested (amm.com, Oct 15). ....
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