LME changes could ease aluminum wait times: Hobbs
Jun 20, 2013 | 03:07 PM
| Everdeen Mason
NEW YORK The London Metal Exchange implemented a number of rule changes for its warehousing system in April, and additional revisions could further alleviate backlogs for metal-thin consumers, said Macquarie Capital Securities Ltd. analyst Duncan Hobbs.
More than 5.4 million tonnes of aluminum is currently stored in LME-approved warehouses around the world, but due to long wait times at a number of critical locations it can take years to retrieve. In response to consumer concerns about metal availability, the LME on April 1 boosted minimum load-out rates for warehouses holding at least 30,000 tonnes of a single "dominant" metal (amm.com, Nov. 15), but with wait times still in months or even years at....
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