Rabobank Strikes Its First LME Metal Financing Deal in Hong Kong

Rabobank said it completed its first financing deal for metals delivered onto the London Metal Exchange in Hong Kong, a location recently added by the bourse as it seeks a foothold close to mainland China.

The move comes as traders and banks are beginning to get to grips with Hong Kong as a place for storing material. The LME added the financial hub to its global warehouse network in the hopes of becoming a gateway for buyers and sellers in China — the world’s biggest metals market — and registered the first batches of metal in warehouses there in July. ...