Charleston, South Carolina is likely to become the London Metal Exchange's fourth billet warehouse location in the US, according to media reports Tuesday. A definite decision is anticipated after the LME board's next meeting in late November.
Charleston would be a logical choice for the next US location, said the reports, considering the existence of prominent steelmakers already situated near the South Carolina ports. The LME currently has warehouses in New Orleans, Louisiana; Chicago, Illinois; and Detroit, Michigan.