Updating a hybrid warehouse deal

The London Metal Exchange’s move to update the current warehousing pact, which one person close to the situation described as “a hybrid between a gentleman’s agreement and a legal document, but which is neither one nor the other”, follows the furore that the queues in some LME sheds and locations have created since the financial crisis of 2008.

Warehouse companies are working individually on their responses, with opinion split on the merits and challenges of the new agreement, although sources at some firms suggest a response might be formulated through an organisation called the International Metals Warehousing Assn, as they seek to grapple...


January 07, 2015

10:30 GMT