Insignia Consultants | LME on last lap to approve Hong Kong as location for metal storage
LME on last lap to approve Hong Kong as location for metal storage
19 hours ago
669
LONDON, Jan 14 (Reuters) - The London Metal Exchange (LME) is concluding its process for approving Hong Kong as a location for its global metals warehousing network, which the exchange considers to be a gateway to mainland China.
Approving warehouses in China, the world's largest consumer of industrial metals, to store metal traded on the LME has been a strategic goal since Hong Kong Exchanges and Clearing (HKEx) (0388.HK), opens new tab bought the LME in 2012 for $2.2 billion. But the LME has failed to get regulatory permission.
