London Metal Exchange: New Orleans Warrants - Clarification

The London Metal Exchange has been asked to clarify the status of LME Warrants following the flooding in New Orleans.

Members are asked to note that LME Warrants for metal stored in New Orleans continue to constitute good delivery against LME Contracts.

However, metal stored in New Orleans that is currently on cancelled Warrants will not be allowed to be re-warranted until further notice.

The Exchange is keeping the situation under review.