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LME drops proposal to stop issuing Malaysia warrants

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The London Metal Exchange said on Monday it has withdrawn its proposal to stop issuing warrants for metal in Malaysia from July after the government resolved issues over its new tax reforms.

[NEW YORK] The London Metal Exchange said on Monday it has withdrawn its proposal to stop issuing warrants for metal in Malaysia from July after the government resolved issues over its new tax reforms.

Earlier this month, the exchange warned it may stop issuing warrants - legal documents for stored metal - for stocks in Malaysian warehouses if it did not get clarification from the government over its planned tax reforms.

REUTERS