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LME CEO Bai Lian Zhang stated: "Following the announcement of Hong Kong as an LME delivery location, the rapid approval of the first batch of warehousing facilities is an exciting development for the LME. We sincerely thank the warehousing companies and partners for their strong support, as well as the metal industry's keen interest in LME's Hong Kong warehousing business."
"Hong Kong is now fully equipped to further develop into a major global metal market, while serving as the best gateway for enterprises to enter the mainland China market. This will further consolidate Hong Kong's important position as an international financial, trade, and logistics hub."
Details of the warehousing facilities approved today (including the warehousing operators, their local partners, and the approved metals for storage) are as follows:
GKE Metal Logistics Pte Ltd (local partner: China Resources Logistics (Yuen Fat Wharf & Godown) Limited) -- aluminum alloy, primary aluminum, copper, nickel, lead, tin, and zinc (with two approved warehousing facilities)
Henry Diaper & Co. Ltd (local partner: Sinotrans (HK) Warehousing Limited) -- aluminum alloy, lead, tin, and zinc
PGS (East Asia) Pte Ltd (local partner: SF Supply Chain (Hong Kong) Limited) -- aluminum alloy, primary aluminum, copper, nickel, lead, tin, and zinc
The new approved warehousing facilities have passed the LME transportation and logistics standards and are expected to officially commence operations in three months, starting to receive and store LME-approved delivery brand metals.
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