LME to expand in China

The London Metal Exchange, the biggest marketplace for industrial metals that's set to consider takeover offers next week, wants to expand its warehouse network into China, the largest user of base metals including copper.

The exchange licenses a network of more than 600 storage sites around the world where users can deposit metals, with Asian locations in Japan, South Korea, Malaysia and Singapore. Metals demand in Asia will continue to expand, Martin Abbott, chief executive officer, said.

Agencies - China Daily