Reuters has reported that Glencore has delivered 40,000 tonnes of Russian aluminium to London Metal Exchange-approved warehouses in the South Korean port of Gwangyang operated by warehousing company ISTIM UK in October Glencore declined to comment. A representative of Russian aluminium producer Rusal told Reuters that it has not delivered any of its metal into the LME system. ISTIM UK also declined to comment. Metal entering the LME's global warehouse storage network, made up of more than 500 warehouses in 32 locations, is issued with a warrant by warehouse operators, a title document conferring ownership. Metal that is stored in LME warehouses but is not on LME warrant is off warrant. LME data shows 80,950 tonnes of aluminium were stored off warrant in Gwangyang in November.
Reuters has reported that Glencore has delivered 40,000 tonnes of Russian aluminium to London Metal Exchange-approved warehouses in the South Korean port of Gwangyang operated by warehousing company ISTIM UK in October Glencore declined to comment. A representative of Russian aluminium producer Rusal told Reuters that it has not delivered any of its metal into the LME system. ISTIM UK also declined to comment. Metal entering the LME's global warehouse storage network, made up of more than 500 warehouses in 32 locations, is issued with a warrant by warehouse operators, a title document conferring ownership. Metal that is stored in LME warehouses but is not on LME warrant is off warrant. LME data shows 80,950 tonnes of aluminium were stored off warrant in Gwangyang in November.
