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LME considers relaxing rules to enhance Hong Kong's status as a metal hub.

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Golden Finance reported that on July 1, 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 that executives of LME's owner, Hong Kong Exchanges and Clearing (HKEx), have asked warehouse companies what barriers need to be removed to make Hong Kong a viable storage location. In a consultation paper in March of this year, the LME proposed allowing outdoor storage of aluminum on a "location-by-location" basis. The four sources said that the proposal is mainly aimed at Hong Kong because of the limited space available for storage in the region. The exchange briefly allowed outdoor storage of aluminum in the mid-1990s but later canceled the practice due to concerns about weather damage and safety issues.
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