LME looks to set up warehouse in Hong Kong

“Our mission is to get as close to the mainland as possible.” LME chief executive officer Matthew Chamberlain said. — Bloomberg

HONG KONG: The London Metal Exchange (LME) is exploring setting up its first warehouse in Hong Kong as it seeks to strengthen services to clients in China – the world’s biggest metals market.

A third-party study on the feasibility of a Hong Kong warehouse has been commissioned, Bonnie Chan, chief executive officer of HK Exchange & Clearing – which owns the LME – said at the metal exchange’s annual Asia seminar in the city yesterday.