The Saudi Ports Authority "Mawani" announced the listing of Jeddah Islamic Port on the "London Metal Exchange"(LME) through its strategic partner, LogiPoint, a subsidiary of SISCO Group, confirming the port's pivotal role in supporting global trade.
The listing of Jeddah Islamic Port on the "London Metal Exchange" as a new delivery center for copper and zinc is a significant step towards making the Kingdom a global logistics platform. It enhances its attractiveness as an investment destination for global exchanges and positions the port among the global platforms for storing metals traded within the exchange, transforming it into a global distribution hub.
This achievement also represents an important step towards strengthening the Kingdom's position in the global metals supply chain. It will contribute to increasing market liquidity and providing an additional delivery option for materials, helping attract more investors, improving the efficiency of the supply chain by reducing transportation and storage costs, and supporting the growth of the mining sector by providing an easier trading platform for metallic materials.
It is worth noting that the London Metal Exchange is one of the largest metal trading exchanges in the world and constitutes the global center for industrial metals trading, where the majority of non-ferrous metal futures contracts are conducted through its platforms, significantly enhancing its role in promoting global trade.
Source: Saudi Ports Authority
