LME WEEK ASIA 2018: Maike CEO pledges to set up LME warehouses in China in five years

The head of Chinese metals trader Maike Group aims to convince the country’s authorities to allow the establishment of a network of warehouses bonded to the London Metal Exchange (LME) on the mainland within the next five years.

“Every year we have massive amount of metals shipped to Shanghai from nearby LME locations such as Malaysia and South Korea. Chinese customers are paying an unreasonably high transport cost,” Maike chief executive officer He Jinbi said on Thursday May 17 at a panel discussion during LME Week Asia in Hong Kong.

He, elected this year as...

Published

Julian Luk

May 17, 2018

10:10 GMT

Hong Kong