Panama City, Florida, could be the next location for the
delivery of London Metal Exchange copper.
At its most recent meeting, the warehousing committee of the
LME discussed a proposal by the copper committee for the
exchange to consider Panama City as a delivery location, people
familiar with the matter said.
The initiative came to the LME through the Panama City port
authority, which is already the operator of warehouse
facilities for Comex copper, although at present no material is
People familiar with the matter said there have been few
committee objections so far to the sunshine state location,
whose port handles Chilean copper cargoes headed for consumers
in the US.
Those consumers include Carrollton, Ga.-based Southwire Co.,
the US copper fabricator fighting against the introduction of
physical copper exchange-traded fund by JPMorgan Chase &
In its latest filing to the US Court of Appeals in Washington,
Southwire criticised the queues in accessing material in
various warehouse locations, including New Orleans (
amm.com, March 26