LONDON: The London Metal Exchange has for the first time in more than two years authorised a new warehouse company, UK-based Grafton Warehouse Services, to store LME-registered metal, the exchange said in a notice on Tuesday.

The last warehouse company to be approved by the LME was Edgemere Terminals in August 2018, the LME said.

LME-registered warehouses also issue LME warrants, or title documents, through their London agents for material delivered into their approved warehouses.

Currently, there are 500 LME-approved storage facilities in 34 locations across the United States, Europe and Asia storing metals such as copper, aluminium, zinc, lead, tin and nickel.