LME approves new delivery points in South Korea

LONDON - The London Metal Exchange said it has approved Incheon Port in South Korea as a delivery point for copper, nickel, aluminium and aluminium alloy. Deliveries to Incheon, some 40 kilometres west of Seoul, will begin after the approval of the first warehouse in the location, or in 90 days, the exchange said. In a separate statement, it said it has approved Gwangyang, also in South Korea, as a delivery point for certain plastics contracts, effective from August 24. It also plans to list a new warehouse in the port. Gwangyang has been used since 2003 as a delivery point for aluminium, copper, nickel and tin.