The exchange announced the plans in November 2019 and aims to attract more metal back in LME sheds
It is controversial, but its passage into the LME rulebook on February 1 follows a consultation last year
Some market participants are now saying the LME should consider going a step further and publish data on an anonymized basis showing where metal goes when it leaves a warehouse.
If that sounds even more contentious than publishing off-warrant stocks, that is because it probably is.
But the argument being made is that a significant portion of the material that exits storage simply moves to another warehouse in the same location for cheaper rent; it doesn’t go to a consumer, nor is it part of a physical...