The London Metal Exchange (LME) has earmarked Kaohsiung for a storage and shipping warehouse, its fourth in Asia and the closest to top metals consumer China, according to a Reuters report.
It is expected that LME, after its visit in January, will apply for a permit in October 2011, after Port of Kaohsiung completes and appraisal, said port business development specialist Wang Yen-chao on Tuesday.
The choice of Kaohsiung was in part due to the improving relations between China and Taiwan, and the port's close proximity to Guangdong province, one of the major copper and aluminium bases in China.
LME does not own or operate warehouses, but authorises warehouse companies to store LME approved brands on behalf of warrant holders.
LME officially launched its Asia office in Singapore in July 2010.
It is expected that LME, after its visit in January, will apply for a permit in October 2011, after Port of Kaohsiung completes and appraisal, said port business development specialist Wang Yen-chao on Tuesday.
The choice of Kaohsiung was in part due to the improving relations between China and Taiwan, and the port's close proximity to Guangdong province, one of the major copper and aluminium bases in China.
LME does not own or operate warehouses, but authorises warehouse companies to store LME approved brands on behalf of warrant holders.
LME officially launched its Asia office in Singapore in July 2010.