(Reuters) -Warehouse operator Henry Bath & Son has become the latest company to register a storage facility with the London Metal Exchange in Hong Kong, a notice from the bourse revealed on Friday.
Henry Bath Registers New LME Warehouse in Hong Kong
(Reuters) -Warehouse operator Henry Bath & Son has become the latest company to register a storage facility with the London Metal Exchange in Hong Kong, a notice from the bourse revealed on Friday.
The warehouse, located in the Kwai Chung district in Hong Kong's New Territories, can store copper, aluminium and aluminium alloy, nickel, lead, zinc and tin, said the notice from the LME, which is owned by Hong Kong Exchanges and Clearing Ltd.
It becomes the 13th Hong Kong facility to be listed since the LME first approved warehouses in the city in January this year, with the aim of providing a gateway to mainland China, the world's biggest metals consumer.
The listing of Henry Bath's warehouse is effective immediately, but metal can only be warranted there - or approved for storage by the LME and made available for delivery against its metals contracts - from Dec. 5, the notice said.
Liverpool-based Henry Bath is majority owned by Chinese warehousing and logistics firm CMST Development Co, which bought a 51% stake from commodity trader Mercuria in early 2016.
(Reporting by Tom Daly)
