LME mulls warehouse in Hong Kong to tap China’s growing metals trade with global investors

Quick Summary:

The bourse owned by HKEX is exploring the idea of setting up a warehouse in Hong Kong to meet rising demand for the physical exchange of metals such as aluminium and zinc between mainland China and the rest of the world, according to its CEO.

Electric vehicles and solar panels, for example, require metals such as copper, lithium, nickel and cobalt, which are all traded on the LME.“Green technologies are metal-intensive, [and we] grasp just how big this opportunity will be.

HKEX is the core market infrastructure at the heart of this, and we are in an unrivalled position to keep connecting the metals industry in mainland China with international markets.

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Article Details

Author / Journalist: Enoch Yiu

Category: Business

Markets: Hong KongChinaSouth KoreaMalaysiaTaiwan

Topics: Asia Chamberlain Warehouse Metal Mainland Exchange Demand Kong Metals Hong China

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-27 @ 13:49:51 (2 days ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 757 words

Reading Time: 5 minutes read

Sentences: 15 lines

Sentence Length: 51 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21399073

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