LME approves four licensed warehouses in Hong Kong

The London Metal Exchange (LME) has approved its first four licensed warehouse facilities in Hong Kong, marking a significant step in establishing the city as a global metals trading hub. The approved warehouses, operated by GKE Metal Logistics, Henry Diaper & Company, and PGS East Asia, will begin storing seven of the 14 LME-approved metals within three months. Financial Secretary Christopher Hui emphasized that this move will enhance Hong Kong's role in international finance and logistics, attracting related enterprises and fostering a local commodity trading ecosystem. LME CEO Matthew Chamberlain noted that Hong Kong is now strategically positioned to serve as a gateway to mainland China, the world's largest metals consumer. The approval follows the LME's decision in January to recognize Hong Kong as an approved delivery point within its global network. The government plans to support further warehouse operators seeking LME approval to strengthen the local market.