LME's Hong Kong Warehouse Network Expands to 15 Facilities, Storage Capacity Nearing Saturation

According to Hong Kong Exchanges and Clearing Chief Executive Officer Olivia Cheng, the London Metal Exchange's approved warehouse network in Hong Kong has expanded from 4 facilities to 15 over the past year, with storage capacity approaching saturation. LME began approving metal warehouses in Hong Kong last year. Cheng stated during the LME Asia Week event in Hong Kong that the expansion represents a key milestone in establishing physical market connectivity. LME and Hong Kong Exchanges plan to explore additional collaboration, including futures and renminbi-denominated products, to build a comprehensive commodities ecosystem in Asia.
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