New LME queues develop after South Korea cancellations

A surge in warrant cancellations in South Korea led to the emergence of new warehouse queues in October, according to data released by the London Metal Exchange on November 10.

As of the end of the October, there was a 28-day wait to obtain copper, lead, nickel and primary aluminium from C Steinweg's LME-registered warehouses in Gwangyang, South Korea. The company's sheds held a total of 70,272 tonnes for the month - with 41,820 tonnes cancelled, up from the previous month’s 11,995 tonnes cancelled, according to the LME. The wait times at warehouses in the South Korean port of Busan operated by P Global Services NV...

Published

Kirk Maltais

November 14, 2017

02:00 GMT

New York