Reuben Brothers’ Metro International Trade Services has raised its 2016/2017 rent and free-on-truck delivery charges for primary aluminium to levels well above those of competing London Metal Exchange warehouse companies.
The hike comes in spite of pleas from the LME for firms to exercise restraint in setting new fees, and has prompted the bourse to pursue charge-capping. Jethro Wookey caught up with the LME’s head of business development, Matthew Chamberlain.
Warehousing news also came from Taiwan, where more than 8,500 tonnes of nickel stocks were cancelled this week. Stocks in Kaohsiung reached a peak of 53,220 tonnes last month, but the cancellations have triggered discussion on the next possible stop for the stocks.
China’s State Reserve Bureau plan to buy 30,000 tonnes of nickel in the first half of 2015, but...