London Metal Exchange (LME) plans to set up its first warehouse in Hong Kong to expand services in Asia.

The London Metal Exchange (LME) is considering setting up its first warehouse in Hong Kong to strengthen services across Asia, according to HK Exchange & Clearing CEO Bonnie Chan. The move would benefit the world's largest metals trading bourse, which has long aimed to establish a warehouse and logistics system for metals in China. LME warehouses have been absent in mainland China due to challenges like competition with Shanghai Futures Exchange.