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The London Metal Exchange (LME) today confirms that it will make daily reports of off-warrant stocks held in LME warehouses available from 1 April 2025. This will provide market participants with a timely and more comprehensive picture of the holdings of LME-approved metals around the world.
These reports will be made available to the market in two ways:
- Next day (T+1) reports will be available to subscribers from 1 April 2025. Access to these reports will be charged at US$1,200 for an enterprise subscription per annum, on a pro rata basis.
- Daily reports will be available without charge on a delayed T+3 basis (ie the report for 31 March will be published on 3 April) on the LME’s website.
Hugo Brodie, Head of Sustainability and Physical Markets Development, said: “Over the last few years, we have been working on further increasing transparency and reporting frequency while also simplifying the data reporting process for warehouses. The introduction of daily off-warrant stocks reporting enhances visibility of stocks, and the implementation of an automated reporting tool means warehouses benefit from a reduced administrative burden.
“This is a significant step forward in delivering greater transparency of stocks across the LME warehouse network.”
Since 1 November 2019, the LME has required its licensed warehouses to report off-warrant stocks held in LME warehouses each month. A consultation undertaken in 2023 indicated support for increasing the frequency of reporting.
In November 2023 the LME announced that it would work with warehouse companies to achieve more frequent reporting and, in December 2024, confirmed that warehouses would be required to start reporting their off-warrant stocks daily to the LME from 10 February 2025. The LME has been reviewing these reports and believes that warehouses are delivering appropriate data that will raise transparency and be of benefit to the wider market.
Background
- Access to daily off-warrant stock reports will be available through the LME’s Online Licensing Portal (“OLP”) via https://datalicensing.lme.com/data-services.
- Any questions regarding subscriptions starting from 1 April 2025 should be directed to the Sustainability and Physical Markets Department at spmdevelopment@lme.com.
- Stocks data representing 31 March at 4:30pm will be published and downloadable from the OLP from 1 April 2025 at 9am and continue on a daily basis.
- The off-warrant reporting requirements require warehouses to report all LME brands held within an LME-registered warehouse if not otherwise under warrant or cancelled tonnage.
- The current monthly reports can be found here.
