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Metal Recycling News July 13, 2020 09:45:17 PM

London Metal Exchange to Publish Off-Warrant Stock Data

Paul Ploumis
ScrapMonster Author
The new reporting rule is expected to deliver increased transparency, which in turn will provide better confidence to market participants.

London Metal Exchange to Publish Off-Warrant Stock Data

SEATTLE (Scrap Monster):  The London Metal Exchange (LME) has started publishing off-warrant stock data, in a bid to raise the visibility of global metals inventories. The Exchange expressed satisfaction with the reporting method after having completed four months of analysis.

The exchange will publish the figures on a delayed-monthly basis on the 10th of each month. The first set of figures was published on July 10th, which included May data as well as off-warrant stock data staring from February this year. The data for June will be published in August, LME noted.

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Mathew Chamberlain, Chief Executive, LME noted that there is still more to be done with respect to voluntary reporting of stocks, for which it will conduct more engagements with its market working group. Meantime, he thanked warehouse companies and metal owners for their constructive approach to the new reporting regime.

The new reporting rule is expected to deliver increased transparency, which in turn will provide better confidence to market participants.

LME had compelled off-warrant stockholders to report their metal if it is stored in LME-bonded sheds or is held by an agreement that allows the owner to warrant the metal in future. The metal owners can voluntarily choose to report their stock, but it will not be included in the monthly figures for the time being. Meantime, LME will seek to promote voluntary reporting.

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