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LME considers relaxing rules to boost Hong Kong's status as a metals hub.

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ME News reports, July 2 (UTC+8), according to four industry insiders, the London Metal Exchange (LME) is considering relaxing rules to enhance Hong Kong's status as a metal storage location. Two of the sources said executives of LME's owner, Hong Kong Exchanges and Clearing (HKEx), had asked storage companies what obstacles need to be removed to make Hong Kong a viable storage location. In a consultation paper in March, the LME proposed allowing outdoor storage of aluminum as an option on a "case-by-case basis." The four sources said the proposal is mainly aimed at Hong Kong due to limited space suitable for storage. The exchange briefly allowed outdoor storage of aluminum in the mid-1990s but later canceled the practice due to concerns over weather damage and safety issues. (Source: PANews)
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