NEW YORK, March 19 Scale Distribution, a metals
warehousing company partly owned by Macquarie Group Ltd
, has applied to CME Group Inc to take delivery
of copper in Florida and Utah, the Chicago-based exchange said.
In Scale's latest move to expand its U.S. footprint, the
small British warehousing firm wants to store copper for CME's
COMEX copper futures contract in Panama City, Florida, and Salt
Lake City, Utah, CME said in a member notice on Tuesday.
If approved, Panama City would be a new location for the
exchange's copper contract in addition to Tucson, Arizona;
Amarillo and El Paso in Texas; Baltimore, Maryland; New Orleans,
Louisiana; Toledo, Ohio and Salt Lake City.
Scale would be CME's tenth copper warehousing company.
The move would also expand Scale's U.S. presence. It already
has facilities registered with the London Metal Exchange in
Panama City as well as Detroit and has applied to be one of the
storage companies for CME's new aluminum contract due for launch
Macquarie bought a stake in Scale in February 2013. Orion
Mine Finance, a mining equity fund spun off from metals hedge
fund Red Kite in September, is also a shareholder.
(Reporting by Josephine Mason, editing by G Crosse)