The London Metal Exchange has developed procedures to manage the temporary unavailability of one of its approved warehouses or delivery points that might stem from the Covid-19 outbreak.
These measures, which are in line with the exchange's Warehouse Agreement, address potential issues around delivery obligations, warranting and rent payments, it said.A delivery point and therefore all warehouses operating there, or an individual warehouse within a delivery point, could be forced to shut for a period if a government imposes a lockdown or staff become sick. The result could be market tightness or physical supply disruption caused by difficulties...