Reported 9 months ago
The London Metal Exchange (LME), owned by the Hong Kong Stock Exchange, is considering establishing a metal delivery warehouse in Hong Kong to strengthen connections with the mainland metal market. LME's CEO, Matthew Chamberlain, mentioned that the site selection for the new warehouse requires considering legal and tax compliance factors. If the feasibility study confirms Hong Kong as a viable location, it could provide the best connection route to China, benefiting mainland customers with improved services. HKEX CEO, Charles Li, believes that the LME warehouse in Hong Kong can enhance links between the mainland physical metal market and international pricing, creating more arbitrage opportunities and reducing delivery network disparities and logistics costs.
Source: YAHOO