LME rule change proposal gives warehouses pause
Jul 23, 2013 | 11:28 AM
| Andrea Hotter
NEW YORK After months of paying high incentives to attract aluminum, copper and zinc into storage, warehouse companies have gone shy.
Proposed changes to the London Metal Exchanges warehousing rules have already led warehouses to back away from attracting material into locations with long queues to access metal, a move they said will continue while they fully evaluate the implications of the changes.
Glencore Xstrata Plcs Pacorini Metals, Goldman Sachs Group Inc.s Metro International Trade Services and Trafigura Ltd.s Nems Ltd. are the three big warehousing companies that would be impacted most by the new rules, which would link load-in and load-out requirements at locations with delivery wait times of 100 calendar days or more.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.