There is potentially no solution to the lengthy warehouse queues in certain locations, nor is there one that the London Metal Exchange could or should propose, an executive from the bourse told Metal Bulletin.
“That is not to say that we do not accept that there is a problem – we deeply sympathise with those sectors of the aluminium industry that have been hit by the consequences of queues,” Chris Evans, head of business development at the LME, said.
“It is because we do care that we have made it our business to listen to many of the best brains in the industry. We’ve looked at the law, and we’ve looked at what is happening in the market […] We can only take action when rules are broken,” he added.
Long queues at warehouses have attracted much debate over the past few years, leading the LME to increase delivery rates...