LME revisits long warehouse queues
Jul 01, 2013 | 10:24 AM
| Mark Burton
LONDON London Metal Exchange warehouse companies will be required to deliver out more metal than they draw in at storage locations where long load-out queues have developed, under new exchange proposals following a review of its warehousing policy.
The new load-out model, which will be subject to a three-month consultation, will link daily stock inflows and outflows to steadily reduce the queues that have developed to withdraw metal from locations such as Detroit, New Orleans, Antwerp, Johor and Vlissingen.
While the LME has taken action previously to make non-dominant metals that are stored in those locations more readily available to the market, the queues for the dominant metals have increased at some of those ports since its most recent changes came into effect in April, the LME said July 1. ....
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