SINGAPORE CME Group Inc. has approved Dearborn Distribution Services Inc.s application to store aluminum against the Comex aluminum futures contract at the warehouse companys Dearborn, Mich., facility.
The approved cumulative indoor and outdoor capacity at the facility is 50,000 tonnes, CME said.
Comex-approved warehouse companies for the aluminum contract include C. Steinweg Inc. in Baltimore, Henry Bath & Son Ltd. in Chicago and New Orleans, and Scale Distribution Ltd. in Ypsilanti, Mich. (amm.com, March 18).
Comex aluminum stocks reported July 11 totaled 17,146 tonnes, including 201 tonnes of warranted material. In Detroit, 16,669 tonnes were classified as eligible or unwarranted stocks.
A ring-dealing member of the London Metal Exchange last week took first delivery of 201 tonnes of aluminum against the new Comex physically delivered futures contract (amm.com, July 11).
A version of this article was first published by AMM sister publication Metal Bulletin.