The London Metal Exchange (LME) has accepted more than 8,000 tons of metal at eight newly certified warehouses in Hong Kong, formalizing the city’s role in the exchange’s global delivery network and bolstering its position as a logistics hub.
In January, the LME designated Hong Kong as its newest licensed delivery location, adding to its network of 32 locations spanning the United States, Europe and Asia. Since April, eight warehouse facilities have been approved and put into service, according to Carlson Tong, chairman of Hong Kong Exchanges and Clearing Ltd. (HKEX), which owns the LME.
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