Drawdowns at backlogged ports to continue after Rusal court win

Warehouse companies will not start to bid aggressively for metal and rebuild queues following the UK High Court’s decision to quash the London Metal Exchange’s measures to cut load-out waiting times.

Likewise, warehouse companies that expected the rules to create a fairer playing field will not abandon plans to list new LME sheds to compete with their larger rivals, sources told Metal Bulletin. The suspension of the new linked load-in and load-out rates came just five days before their planned introduction on April 1, as the UK court ruled that the LME’s consultation on the rules was unfair and unlawful, supporting claims made by UC Rusal. The LME plans to review its legal position and signalled that it may undertake a fresh consultation concerning the rules. But it has also...


Mark Burton

March 27, 2014

17:13 GMT