The LME added sites in the city to its global network of warehouses last year, marking the first time they had been approved in Chinese territory. The push was aimed at giving China’s vast metals industry a more convenient channel to offload supply onto the global market.
(May 7): The London Metal Exchange (LME) is ready to expand its suite of approved warehouses in Hong Kong after licensing the first last year, according to chief executive officer Matthew Chamberlain.
The world’s pre-eminent metals bourse is examining “how we can really open this up and hopefully get from tens of thousands of tons to hundreds of thousands of tons, which we know would be the natural demand here”, Chamberlain said in a speech at the LME Asia Week in Hong Kong.
