A source close to the matter said last month that Goldman

Trafigura Canada Goose Parka says has no plans canada goose uk sale to sell warehousing unit

LONDON, Dec 10 (Reuters) Commodity trader Trafigura said it had no plans to sell its warehouse operations, responding to speculation it wanted to spin off the business after the London Metal Exchange (LME) tightened rules to reduce backlogs in the sector.

Trafigura bought warehousing company North European canada goose Marine Services (NEMS) in 2010 and later consolidated all of its warehousing and logistics activities uk canada goose into its subsidiary Impala.

canada goose coats The LME, the world biggest marketplace for industrial metals, detailed a package of proposals in November to slash queues to access metal following complaints, lawsuits and regulatory pressure. canada goose coats

canada goose coats on sale The new Canada Goose Jackets regulations to take effect from April have the potential to reduce profits for warehouse companies, which have generated canada goose uk outlet rental income from metals caught up in canada goose clearance backlogs. canada goose coats on sale

canada goose clearance sale JPMorgan Canada Goose online Chase Co has been trying to sell its Henry Bath metals warehousing unit but has not found Canada Goose Outlet a buyer. A source close to the matter said last month that Goldman Sachs planned to resume talks with parties interested in its warehousing business, Metro International Trading Services. canada goose clearance sale

canada goose deals Industry sources said talk had recently circulated that NEMS was up for sale too. canada goose deals

can confirm that is absolutely not the case, Trafigura Canada Goose sale spokeswoman Victoria Dix said on Tuesday. is not for uk canada goose outlet sale, and cheap canada goose uk it remains a wholly owned part of the canada goose uk black friday Impala group.

Canada Goose Parka Simon Collins, head of Non Ferrous and Bulk Commodities at Trafigura, said the company welcomed the LME reforms to warehousing policy. Canada Goose Parka

buy canada goose jacket cheap decisions will buy canada goose jacket make a strong and Canada Goose Coats On Sale sustained contribution to the smooth running of the LME system once they come into force, he said in an emailed statement. regulators regarding their involvement in the physical commodities business, including warehouses. buy canada goose jacket cheap

canada goose black friday sale But commodity trading companies are not affected by those regulatory issues. canada goose black friday sale

buy canada goose jacket I don see any of either Glencore or Trafigura selling any cheap Canada Goose warehouses. It wouldn canada goose black friday sale make sense, canada goose coats said an analyst who declined to be named. is a physical producer of practically every metal in fairly substantial size with Xstrata, and for Trafigura it a core part of their business. buy canada goose jacket

canada goose clearance A canada goose uk shop trader who specialises Canada Goose Online in LME warrants, ownership documents for warehouse buy canada goose jacket cheap inventories, said: a private canada goose clearance sale company, Trafigura canada goose store may be in a better position to operate a warehouse company than some others in the market. canada goose clearance

canada goose store Glencore Xstrata owns warehouse company Pacorini, which is very active in the Dutch port of Vlissingen, https://www.canadagoose-online-shop.co.uk which holds over 2 million tonnes of aluminium and has some of the longest queues among LME registered warehouses. canada goose store

Canada Goose online The trader said sale rumours may have been sparked by reduced activity at Antwerp, the location where NEMS is most active. Canada Goose online

canada goose The quantity of LME metals stored at Antwerp has shrunk by 40 percent to 253,628 tonnes since July 1, when the LME released initial proposals regarding its warehouse regulations. canada goose

Canada Goose Outlet A source in canada goose factory sale the warehousing sector said NEMS was not as successful in creating queues and generating income from that strategy as rivals such as Goldman and Glencore. Canada Goose Outlet

canadian goose jacket Trafigura that there is this business model of making a queue, so they tried to make one as well, said the source who declined to be named. canadian goose jacket

Canada Goose Jackets they were a bit late to the game, and that made it canada goose coats on sale difficult for them. And had the LME rules not changed, they may have succeeded. Canada Goose Jackets

cheap Canada Goose Some market participants have said trading firms were acting within their rights and blamed long queues on the complexity and cost of moving aluminium out of vast sheds in ports. cheap Canada Goose

Canada Goose sale But growing criticism of the LME storage network led the exchange last month to slash minimum queues for canadian goose jacket metal and beef up its powers to act against market abuse. (Additional reporting by Susan Thomas; editing by Veronica Brown and Tom Pfeiffer) Canada Goose sale.

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