Tiny but vital metal markets rush to adjust to Chinese clampdown
A bigger clampdown looks set to have far-reaching ramifications for supply chains feeding American defense and chip-making industries.
The London Metal Exchange (LME) said on Tuesday that warehouses registered with the exchange in Baltimore had not been affected by a bridge that collapsed in the city after a freighter smashed into it.
“The LME has been in touch with its approved warehouses in the area and can confirm that no major issues have been reported,” the exchange said in an emailed statement.
Data from the exchange, the world’s oldest and largest market for industrial metals, showed its storage facilities in Baltimore had modest amounts of metal: 756 metric tons of nickel, 150 tons of tin and 50 tons of copper.
The LME is owned by Hong Kong Exchanges and Clearing Ltd.
(By Eric Onstad; Editing by Leslie Adler)
Related: Baltimore bridge collapse will likely block coal exports for weeks
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