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LME Seeks to Shorten 100-Day Withdrawal Times at Warehouses

The London Metal Exchange, the world’s biggest metals marketplace, is seeking to speed up withdrawals from stockpiles in warehouses where waiting times exceed 100 calendar days.

Those warehouses would have to deliver out more metal than they take in, based on a formula, the LME said in a statement today. Market participants are being consulted until Sept. 30, the exchange said. Its board is expected to review the plan in October, and the proposal would take effect April 1 if approved, the statement showed.