Metal Registration

Telephone: + 44 (0)20 7917 2740
Email: melaniewells@metalreg.com
  • About
  • Services
    • Services
    • Case Studies
    • FAQ
  • Testimonials
  • News
  • Resource Information
    • Useful Links
    • Articles
    • Metals Exchanges/Markets – Contact Data
    • Metals Exchanges/Markets – Physically Delivered Contracts – Specifications
    • Non Ferrous Metals Contracts
    • Precious Metals Contracts
    • Minor Metals Contracts
    • Ferrous Metals Contracts
  • Contact

LME – Rulebook – Primary Nickel Rules Amendments

12 November, 2015

11/11/15 – The LME issued a notice detailing amendments to its Special Contract Rules For Primary Nickel (Part 6 of the LME’s Rulebook). The key amendments are:-

i) The removal of the ruling requiring an LME warehouse to open and inspect drums/bags before being placed onto LME warrant.

ii) Unmarked drums or bags will no longer be permitted into LME storage.

iii) The removal of the ruling, as per previous practice, permitting an LME warehouse to repack and subsequently warrant nickel contained in drums with crimped lids.

Please see a copy of the notice below:-

To: All members, warehouse companies, London agents, samplers and assayers
Ref: 15/352 : R008 : W117
Date: 11 November 2015
Subject: AMENDMENTS TO PART 6 OF THE LME RULEBOOK – SPECIAL CONTRACT RULES  FOR PRIMARY NICKEL

Summary
This notice details the amendments that have been made to part 6 of the Rulebook, Special Contract Rules for Primary Nickel which are effective today. The new Special Contract Rules for Primary Nickel are appended to this notice along with a comparison with the old Special Contract Rules for Primary Nickel.

Key Amendments
1. The ruling requiring an LME warehouse to open and inspect drums/bags before being placed onto LME warrant has been removed. The rule now is that original producer drums/bags will enter LME storage uninspected.
2. Unmarked drums or bags will not be permitted into LME storage. Original producer drum/bags will only be permitted for LME warranting with the exception of damaged drums/bags where repacking by a Warehouse Company is required.
3. The ruling allowing drums with crimped lids to be repacked by an LME Warehouse using a ring sealing method has been removed. Drums with crimped lids will not be acceptable for LME warranting and Warehouses will not be permitted to repack the material as per previous practise unless an Agreement is in place between a producer and third party.

If you require clarification on any of the amendments to the Special Contract Rules for Nickel, please contact me.

Other Amendments
In addition to the key amendments above; the layout/format of the Rules has been amended.

Liz Tompkins
Brands Listing Supervisor
Physical Operations Department
cc: Board directors and Nickel committee

 

 

 

 

Filed Under: Exchanges, NEWS

Office: 180 Piccadilly, London, W1J 9HF, UK
Telephone: + 44 (0)20 7917 2740
Fax: + 44 (0)20 7917 1740
Email: melaniewells@metalreg.com
Skype: metalreg1
  • LinkedIn
  • Twitter

Copyright © 2021 · Privacy Policy · Legal Information · Registered Office: 180 Piccadilly, St James, London, W1J 9HF · Registered in England No. 04155062 · VAT No: 792-1505-28

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish.Accept Reject Read More
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled

Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.

Non-necessary

Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.

  • English