Red Sea Port Poised to Become New Hub for Copper and Zinc Trading

Red Sea Port Poised to Become New Hub for Copper and Zinc Trading

The London Metal Exchange (LME), the world’s biggest and oldest market for metals trading, is setting its sights on Jeddah, Saudi Arabia, as a potential new delivery point for copper and zinc. This move signifies the LME’s commitment to expanding its global reach and catering to the evolving needs of the metals industry. Jeddah’s strategic location on the Red Sea makes it a prime candidate for a […]

via Red Sea Port Poised to Become New Hub for Copper and Zinc Trading

The London Metal Exchange (LME), the world’s biggest and oldest market for metals trading, is setting its sights on Jeddah, Saudi Arabia, as a potential new delivery point for copper and zinc. This move signifies the LME’s commitment to expanding its global reach and catering to the evolving needs of the metals industry.

Jeddah’s strategic location on the Red Sea makes it a prime candidate for a delivery point. As a major port city, it boasts well-developed infrastructure and enjoys easy access to key markets in the Middle East, Africa, and Asia. Establishing a presence in Jeddah would allow the LME to tap into the growing demand for these metals in these regions.

There’s one technical hurdle to clear before Jeddah becomes