Hong Kong's Lee Kee sees potential for spot HKEx metals market
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Hong Kong
HUNDRED of thousands of small and medium-sized factories in China may use a spot commodity platform that Hong Kong Exchanges and Clearing (HKEx) is considering building, said the head of one of the biggest metals merchants in Hong Kong.
Clara Chan, chief executive officer of Lee Kee Group, which is a member of HKEx subsidiary the London Metal Exchange (LME) and which owns a brokerage firm, said that factories could use the platform as they look to diversify supply channels for raw materials. She also said that they could use it for hedging their exposure to fluctuations in prices for metals such as copper, aluminium, nickel or zinc.
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