Citi Boosts LME Warehouse Lead Deposits for Lucrative Rent Agreements

Reported about 11 hours ago

Citigroup has recently deposited significant quantities of lead into London Metal Exchange (LME) approved warehouses to engage in profitable rent-sharing agreements, according to sources. These arrangements allow companies delivering metal to LME warehouses to share the rental income from new owners, with much of the lead in Singapore warehouses—90% of the total in the LME network—under such deals. The daily rent for lead in Singapore is reported at 51 U.S. cents per ton, potentially generating nearly $14,000 daily for the 27,250 tons deposited.

Source: YAHOO

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