Warehouse incentives fall after LME action

Jul 05, 2013 | 12:45 PM | Jethro Wookey

Tags  warehouse, LME, London Metal Exchange, Detroit, aluminum, zinc

LONDON — London Metal Exchange warehouse companies are cutting the incentives they will pay to attract metal into registered locations such as Detroit in response to the bourse’s proposals to cut back the queues that have developed there, market sources told AMM sister publication Metal Bulletin.

The incentive to bring aluminum into Metro International Trade Services LLC’s warehouses in Detroit is believed to be about $195, down about $30 since the LME’s surprise announcement July 1 (amm.com, July 1) , market observers said.
Pacorini Vlissingen BV, which is believed to have backlogged sheds in Vlissingen, the Netherlands; New Orleans; and Johor, and Nems Ltd., the dominant player in Antwerp, are also recalculating the incentives they will pay to take in metal, sources said.....

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