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BREAKING NEWS

BREAKING NEWS

LME dismisses Glencore complaint over access to metal in Malaysia - sources

LME dismisses Glencore complaint over access to metal in Malaysia - sources
FILE PHOTO: Traders work on the floor of the London Metal Exchange, in London, Britain September 27, 2018. REUTERS/Simon Dawson/File Photo -
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Simon Dawson(Reuters)
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LONDON (Reuters) - The London Metal Exchange (LME) has dismissed a complaint from miner and commodity trader Glencore over its inability to take fast delivery of aluminium from warehouses owned by ISTIM UK in Port Klang, Malaysia, two sources familiar with the matter said on Monday.

Both Glencore and ISTIM UK declined to comment.

"The LME has recently received and decided a formal complaint in respect of warehousing.  The LME would not comment on that specific complaint, or confirm the parties involved," the LME said in a statement.

"However, the LME believes it appropriate to inform the market of matters of general interest arising from the complaint, and in particular the point at which a queue should be determined to arise for the purposes of the LILO Rule," it added.

(Reporting by Pratima Desai)

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