Shanghai Port in Talks to Buy LME Warehouse
State-backed Shanghai International Port Group is negotiating to acquire LME-approved warehousing firm H&M Metal Warehousing. The potential deal aims to secure valuable data on global metal flows and strengthen China's role in the trading infrastructure.
State-backed Shanghai International Port Group is in talks to buy Singapore-based warehousing firm H&M Metal Warehousing with China government approval, two people familiar with the negotiations said on Monday morning. The acquisition would expand the footprint of the world's largest consumer of industrial metals within the trading infrastructure of the London Metal Exchange. China is pushing to capture a greater share of global commodities revenue as domestic trading houses expand their international reach.
