HONG KONG, May 20 (Reuters) - The Hong Kong stock exchange said on Wednesday a major issue for the exchange was to ensure it has influence in spot market trading in key commodities in coming years.
“Everybody thinks warehouses is a big issue for LME (London Metal Exchange). It is a very big issue for the LME. It is not a very big issue for the Hong Kong Exchange,” Hong Kong Exchanges and Clearing Ltd Chief Executive Charles Li said at a conference.
“It is a very big issue for Hong Kong Exchange to make sure in five years we will have influence in the spot market in iron ore, in coking coal, copper in rubber, in agriculture.” (Reporting by Melanie Burton; Writing by Richard Pullin; Editing by Ed Davies)