South Korea’s Gwangyang is the new LME aluminium battleground

Gwangyang now holds 70% of live stocks in the LME system. — Reuters

THE South Korean port of Gwangyang has emerged as the new hub for storing London Metal Exchange (LME) aluminium.

LME-registered warehouses in the city currently hold 256,650 tonnes of aluminium, accounting for 49% of all the light metal sitting in the exchange’s global warehouse network.