News / Henry Bath listed as first LME Plastics Warehouse

Henry Bath listed as first LME Plastics Warehouse

May 13, 2005 - With immediate effect, the LME today listed Henry Bath's warehouse D at Jurong Island in the port of Singapore for good delivery against its Polypropylene (PP) and Linear Low-Density Polyethylene (LLDPE) contracts.

Henry Bath is currently seeking additional LME Plastics warehouse listings in the Antwerp/Rotterdam area and in Houston, USA.

The initial approved warehouse companies are Henry Bath Singapore, in Singapore and C.Steinweg-Handelsveem in both Rotterdam and Singapore. Houston is also a proposed delivery location for the new plastics contracts; the LME hopes to announce details of an approved warehouse in Houston in due course, suggested Anna Campopiano, LME Director of Corporate Affairs.

"I am delighted to see these organisations listing their brands and warehouses for the LME plastics contracts. We believe this will provide excellent global coverage across the LME delivery locations and will help ensure liquidity on launch, thereby enhancing the success of the LME's plastics futures contracts," LME chief executive Simon Heale said in a statement. Futures trading for both PP and LLDPE is due to begin on May 27; both contracts will be traded simultaneously in open-outcry via two five-minute "rings" (12:20 pm and 3:55 pm London time), plus two kerb sessions; via the LME's Select electronic trading system from 7:00 am to 7:00 pm London time; and on a 24-hour basis via the LME's inter-office telephone market.

For further information on Henry Bath plastics warehousing operations contact Mr. Anthony Key at the Head Office, Liverpool, UK (Tel: +44 151 224 1800).

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