LME warehousing rules change?
Might happen, might not. Should have an effect on the markets though and take some profit from the big metals banks if passed. All good.
Link to full story.
https://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=2011061...
Intro.
LONDON -(Dow Jones)- As the London Metal Exchange board meets Thursday to discuss potential changes to the way LME-approved warehouses, particularly in Detroit, store aluminum, Dow Jones Newswires takes a look at the key issues facing the exchange and puts paid to several of the myths surrounding the metals storage system.
What's all the fuss about?
The storage of aluminum has become one of the most hotly debated topics among LME participants in recent months, following complaints that long delays in accessing metal from warehouses has driven premiums for physical delivery artificially higher, not just in the U.S. but also in locations across the world where demand for metal has increased as a result. Consumers say that one warehousing firm in particular is removing the minimum amount of aluminum--1,500 metric tons a day--from its facilities, and that it could remove a lot more, erasing supply bottlenecks and lowering premiums for physical delivery in the process.
Where are the delivery problems mostly happening?
