LME mulls rules to keep metal from running out after chaos

LONDON: The London Metal Exchange (LME) is considering whether it should sometimes block traders from withdrawing inventory from its warehouses, in order to guard against running out of metal entirely.

Such a move would mark a significant shift in philosophy for the 144-year-old LME, which has long trumpeted its role as a “market of last resort” – into which producers can deliver unwanted metal in times of glut, and to which consumers can turn for supplies in times of scarcity.