Whelan Metals lists LME shed in New Orleans, fuelling talk of warehouse raid

Independent warehousing firm Whelan Metals has listed two new storage facilities in New Orleans as delivery points for metals traded on the London Metal Exchange, the bourse told members on Thursday February 12.

The listings come a day after the cancellation of nearly 90,000 tonnes of zinc in LME warehouses in New Orleans, where Pacorini is by far the largest operator. Following the cancellation, warehousing and trade sources said the material was destined for a rival warehouse in the Louisiana port. “That big hit cancellation smells to me of someone who knows their craft looking to...

Published

Mark Burton

February 12, 2015

17:42 GMT

London