Commodities Comment : LME warehouse reforms. High Court decision looms

Wednesday morning, the Court of Appeal in London will hand down itsdecision determining whether the LME can implement its warehouse reformsto cut long queues. In today’s daily, we highlight the updates of the progressin respect of LME’s reforms of its physical delivery network and the impact ofthe potential rules change.

    Essentially, the fact that this process has been through appeal means that,whatever the outcome, the market impact is likely next to zero. The key playersin warehousing and financing have altered their business models successfully