off-the-wire

LME approves three more warehouse facilities for Hong Kong

Kitco Media
By Reuters
Published:
Updated:
Reuters
LME approves three more warehouse facilities for Hong Kong teaser image

The London Metal Exchange (LME) has approved an additional three warehouse facilities for Hong Kong, taking the total to seven, the Hong Kong Stock Exchange (HKEX) chief said on Wednesday.

Approving warehouses in China to store LME traded metal has been a strategic goal since Hong Kong Exchanges and Clearing bought the LME in 2012.

LME first approved Hong Kong warehouses in January, after more than a year of work. The first four are set to start operating in July.

(By Lewis Jackson and Liz Lee; Editing by Tom Hogue)

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