It’s a bold step and unlikely to be the only one of its kind, as warehouse firms adapt to a new era.
Already other warehouse firms have spent LME Week quietly offering space to their industry peers.
Impala is exiting LME warehousing in South Korea, Taiwan, Malaysia, the UK and Turkey. It’s staying in Antwerp and Dubai.
The delistings will take place over the next few weeks through to year-end, Impala ceo Nicolas Konialidis told Metal Bulletin in an interview.
LME warehousing has changed, and the golden years that made it one of the most lucrative businesses in the metals industry for the past few years have passed.
Now it’s all about winding down long queues and adhering to strict rules on load-ins and load-outs, the result of new exchange rules.
Not that this is a bad...