The London Metal Exchange (LME) has announced that the port city of Jeddah, Saudi Arabia, has been approved as a new LME Jeddah delivery point for its registered warehouses handling copper and zinc. This decision will enhance the global metal supply chain as LME expands its presence in the Middle East.
The new delivery point will become operational three months after the first warehouse company in Jeddah receives LME approval. Once fully functional, copper and zinc deliveries will commence at Jeddah Islamic Port, one of the busiest ports in the region.
LME Jeddah Delivery Point Strengthens Global Reach
The LME first announced its plans to add Jeddah as a new LME Jeddah delivery point in March. Afterward, further discussions took place to finalize the approval process. This move aligns with LME’s strategy to enhance trader access and global market liquidity. Saudi Arabia’s location and transport network make Jeddah a key regional metals hub.
Expanding Saudi Arabia’s Influence in the Global Metals Market
Saudi Arabia is emerging as a global metals hub, leveraging Jeddah’s infrastructure to meet LME’s warehouse criteria. LME CEO Matthew Chamberlain stated that this expansion supports the exchange’s goal of diversifying delivery networks and strengthening supply chains.
As part of its Vision 2030, Saudi Arabia has expanded mining investments. The recognition of Jeddah as a new logistics hub will strengthen its position in global metals trade and generate regional business opportunities.
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