LME Lists New Warehouses, Receives Aluminum Brand Application

LONDON, June 28 -- The London Metal Exchange has approved a number of new warehouses as delivery locations for its futures contracts and has received an application for a new primary aluminum brand, it said Friday.

Aluminum producer Emirates Aluminium Company Limited PJSC has applied for a brand listing under the name EMAL. The exchange also listed JSC Uralelektromed's copper as a new brand under the name UMMC, it noted.

Warehousing company Pacorini got the go-ahead for a new warehouse in Busan, South Korea, while Metro International Trade Services LLC received approval for new warehouses in Malaysia's Port Klang and in New Orleans, U.S.

Metro will also store steel at facilities in New Orleans from July 29, following the location's addition to delivery points for its steel futures contract.