Page 4 - Access World News Today

By Andy Home LONDON (Reuters) - The London Metal Exchange's (LME) global warehousing network is shrinking rapidly. Over the past year the number of re...

Scarcity in the physical supply chain has drained metal away from the exchange, hitting rental revenue for storage suppliers, writes Andy Home.

A New York federal judge has signed off on a deal between Goldman Sachs, JPMorgan and two major manufacturers of aluminum products to end claims that the Wall Street giants conspired with metal warehouses to "squeeze up the premiums" for the commodity.

Glencore’s decision to sell its warehousing and logistics business looks like a well-timed call on the metals storage market. It bought Access World in 2010 in the wake of the financial crisis, which generated a surge of metal, particularly aluminium, into London Metal Exchange (LME) warehouses. Total LME inventory of all metals mushroomed from 3.41 ...

Infinity Logistics keen to tap into local capital market

Exchange stocks have been draining away as pandemic demand recovery collides with disrupted supply chains across the base metals spectrum.

As the company continues to sell smaller assets.

Glencore is selling its metals warehousing business to Malaysia-based Infinity Logistics and Transport Ventures.

Switzerland-based Access World handles about 20 million tonnes of commodity products a year, including oil and gas and industrial metals.

Queues at Istim warehouses in Port Klang fall to 20 days Waiting times for aluminium at Istim warehouses in Port Klang, Malaysia, fell to just 20 days at the end of December, according to the London Metal Exchange’s latest queue report. There was a queue for aluminium at Istim warehouses in Port Klang every month in 2020. The queues originally built up due a series of large aluminium cancellations across the LME network in Port Klang. But a significant number of deliveries ...