LME eyeing Hong Kong as a global warehouse location, says owner HKEX [Yahoo! Finance]
HONG KONG EX&CL UNSP/ADR (HKXCY)
NASDAQ:AMEX Investor Relations:
hkexgroup.com/investor-relations?sc_lang=en
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Source: Yahoo! Finance
By Mai Nguyen and Siyi Liu HONG KONG (Reuters) -The London Metal Exchange (LME) is exploring the possibility of listing Hong Kong as an LME warehouse location, the chief executive of its owner said on Thursday, as the exchange looks to strengthen its global logistics footprint. Registering warehouses in China, the world's largest consumer of industrial metals, to store metal traded on the LME has been a strategic aim since Hong Kong Exchanges and Clearing (HKEX) bought the LME in 2012 for $2.2 billion. The exchange has recently said it is looking to expand its global warehouse network to add Saudi port Jeddah while Reuters reported in January it was also examining opening a warehouse location in Hong Kong. "We recently commissioned a third party feasibility study on this idea and we have been receiving great support from the local market," said Bonnie Chan, confirming the Reuters report. "LME warehouses in Hong Kong could strengthen the link between mainland physical metals
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