LME warns warehouses against delivering forged warrants

The London Metal Exchange called on warehouse operators not to warrant metal which have question marks over its ownership, including any possible links to forged warehouse receipts such as those reported by Access World last week.

In a notice to members issued on Tuesday January 31, the LME confirmed that “warehouses must not place metal on warrant where [they] have reason to believe that ownership of such metal could be disputed or delivery of the metal prevented”.
“This might include, without limitation, situations where the warehouse is aware that forged or disputed warehouse receipts have been issued in respect of that metal,” the London bourse added.

This is to ensure that delivery on...

Published

Perrine Faye

January 31, 2017

15:22 GMT

London