The London Metal Exchange (LME) will double the amount of metal required to be delivered from the biggest stockpiles to ease a backlog in Detroit, home to a quarter of global stockpiles.
The so-called load-out rate will be increased to a daily minimum of 3,000 metric tons for a warehouse company storing more than 900,000 tons at a single location in April. The new rules may help to remove aluminum faster from warehouses holding the biggest stockpiles. Withdrawing metal from warehouses in Detroit, the only location with stockpiles above 900,000 tons, can take as long as seven months.