The threshold has been extended under a phased implementation over the past nine months. It began on February 1, 2020, when the rule moved to 50 days full rent, from the original rule of 30 days full rent and 20 days half rent.
In the final phase, from November 1, warehouses will be able to charge rent for as long as 80 days
in a queue, after which no rent will be due.
“From next week, QBRC is at 80 days and the LME’s reform is complete for now,” a market source said. “The phased implementation has been pretty smooth so far because there has only really been one constant queue.”
Fastmarkets understands that QBRC applies at the time of cancellation and allocation of slot.
So theoretically, if you joined a queue before November 1, you would pay 70 days full rent, but if you join on or after...