The Chief Executive of the London Metal Exchange (LME), Mr. Zheng Bo-lian, stated at an event that if warehouses are established in Hong Kong, mainland metal holders can transport their metal to the Hong Kong warehouse through a coordinated transportation network to facilitate physical delivery and maintain price consistency.

Mr. Zheng also mentioned that as of the end of May this year, the daily trading volume of the exchange was higher than in any previous year, with a large number of open contracts in the past few years, and a 44% year-on-year increase in open contracts in the past 12 months. He also stated that the group has made a strong effort to rebuild the nickel market, has commissioned an independent review, and will fulfill its commitments.

The London Metal Exchange currently has 32 warehouses worldwide, including 10 in the Middle East and Asia. The group is exploring the establishment of warehouses in Jeddah, a port city in Saudi Arabia, and Hong Kong.