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LEM Meets Resistance in China

2015-06-12

LEM’s ambitious in establishing a plant in china encountered strong resistance, especially in Shanghai, According to the news from overseas.

If LEM register successfully in China, it would be a big threat for SHFE since more customers will turn to doing business in the later platform.

But spokesman from SHFE has no comments about it.

A smelter said that SHFE is reluctant to accept this application for their interests. So it is predicted that LME will turn to Tianjin for a new destination.

Chinese smelters against this decision because they think it will increase mental importation.

But now, the situation becomes better because they can import metals from overseas freely now.

Another reason is that they have been established mental warehouse in Korea and Taiwan, so it is unnecessary for another one in short distance.

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