LME warehouse plan a ‘go’ despite challenge

Dec 24, 2013 | 01:22 PM | Shivani Singh

Tags  London Metal Exchange, LME, Hong Kong Exchanges & Clearing, HKEx, warehousing policy, United Co. Rusal, UC Rusal, Hong Kong's Securities and Futures Commission Shivani Singh

SINGAPORE — The London Metal Exchange will proceed with its proposed warehousing policy changes, aimed at cutting queues for metals, despite aluminum producer United Co. Rusal’s (UC Rusal’s) challenge to the plan.

The LME has been named as a defendant in a judicial review claim issued by Moscow-based UC Rusal and filed Dec. 23 in the English High Court, LME owner Hong Kong Exchanges & Clearing Ltd. (HKEx) said Dec. 24.....

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