The London Metal Exchange (LME) may become the first international exchange house to establish commodities warehouses in the China (Shanghai) Pilot Free Trade Zone (FTZ), accroding to Xinhua News Agency.
It's reported that copper and other industrial metals will be the initial batch of metals being handled at the LME warehouses.
The LME is recognized as the international center for industrial metals trading, handling more than 80 percent of global non-ferrous trading business. It has over 700 approved warehouses for physical commodities in 37 locations in 14 countries.
Nine of the warehouses are located in Asia, including South Korea, Japan, Malaysia, Singapore, Taiwan.