US exchange operator CME is discussions with authorities in Hong Kong to add an aluminum contracts physical delivery facility in the city, Bloomberg News reported Thursday, citing people familiar with the matter.
CME's move comes after Hong Kong authorities approved the London Metal Exchange's application to build a warehousing facility in the city, the report said.
Setting up an exchange warehouse facility is a challenge in Hong Kong given the lack of space in the city and the expense relative to other delivery points like Port Klang in Malaysia or Singaore, the report said.
CME did not immediately respond to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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