(Bloomberg) --Exchange will make several changes to warehousing...

Originally posted by Len

Zinc stock level continues to fall. The 'DARK ZINC STOCK PILES' don't exist.

(Bloomberg) --

Exchange will make several changes to warehousing rules in order to boost stockpiles and to increase transparency, LME says in a press release.

• Changes include:
  • Relaxing a rule that caps the amount of rent warehouses can charge on metal held in a queue. The length of queue that must build up before the rent is capped will increase from 50 days to 80 days
  • Compelling warehouses to report data on the amount of metal they hold outside the LME system
  • Restricting so-called “evergreen rent deals”
• New rules will come into effect on Feb. 1, 2020
• LME CEO Matthew Chamberlain said the exchange had received “a general appreciation for the balanced approach we have taken, using a combination of both logistical and financial drivers to bring greater vibrancy to the LME market”.

Len, these reforms were put forward by the LME on Nov 1. Would suggest there are indeed stockpiles outside of the system. Check point two.