LME identifies Hong Kong warehouses

The London Metal Exchange (LME) has approved its first four LME-licensed warehouse facilities in Hong Kong. The announcement follows the LME’s approval of Hong Kong as an LME warehouse location this January.

The four warehouses will be operated by three different pairs of companies, with one of the duos operating two warehouse locations.

“Being able to confirm the listing of our first warehouse facilities so swiftly after announcing Hong Kong as an LME delivery point is an exciting development for the LME,” says Matthew Chamberlain, CEO of the LME. “We are grateful for the strong level of interest from warehouse companies and service providers, as well as from metal owners looking to access Hong Kong storage and logistics."

Singapore-based GKE Metal Logistics Pte. Ltd. will partner with business units of Hong Kong-based China Resources Logistics to operate two warehouses that will accept aluminum alloy, primary aluminum, copper, nickel, lead, tin and zinc.

Henry Diaper & Co. Ltd., based in England, will partner with Hong Kong-based Sinotrans (HK) Warehousing Ltd. to host aluminum alloy, lead, tin and zinc materials.

Singapore-based PGS (East Asia) Pte. Ltd. is partnering with SF Supply Chain (Hong Kong) Ltd. at a warehouse that will accept aluminum alloy, primary aluminum, copper, nickel, lead, tin and zinc.

“Hong Kong is now well positioned to further develop as a key global metals hub servicing the region and as a gateway for access to the Mainland China market, reinforcing Hong Kong’s vital role as an international financial, trade and logistics center,” Chamberlain says.

According to LME, the new storage facilities have been inspected and meet the exchange’s transport and logistics criteria, and they will be able to start storing LME-warranted metal in about three months’ time.