The London Metal Exchange (LME) has approved Kaohsiung, Taiwan as a good delivery point for tin and all its other major traded non-ferrous metals contracts. This will be the LME’s ninth location in Asia. The location will become active three months after the first warehouse company operating there is approved by the exchange. Taiwan is Asia’s fourth largest market for tin, importing between 10,000 – 13,000 tonnes per year.
The LME has over 700 warehouses listed in 36 locations internationally. The eight other Asian locations listed are: Singapore; Nagoya and Yokohama in Japan; Busan, Gwangyang and Incheon in South Korea; Johor and Port Klang in Malaysia. The last location to be listed was Port Klang, Malaysia in 2009. In recent years most tin held on warrant has been stored in Malaysia and Singapore.
“It is important that the LME’s network of good delivery points are located in the correct regions to meet the demands of the metals industry”, said Rob Hall, Head of Physical Operations at the LME. “With Asia being the fastest growing industrial region in the world, and a significant net consumer of LME metals, the listing of Kaohsiung is an important step in ensuring these demands continue to be met.”
