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UPDATE 1-Steinweg says it not negotiating to sell itself

* Pacorini news fuels speculation

* Steinweg will not change its position

(Adds detail, comment, background)

LONDON, Aug 4 (Reuters) - Rotterdam-based warehousing firm C. Steinweg is not in negotiations to sell itself or parts of its business and it intends to remain independent, a source at the company told Reuters. Traders said news of the planned sale of Italian-based Pacorini Group’s metals warehousing unit to trading and mining giant Glencore International [GLEN.UL] had fuelled speculation that Steinweg would be next in line. [ID:nLDE6720M6]

“There is nothing going on at all ... We will continue as we have for the last 163 years,” the Steinweg source said.

“We are not negotiating at the moment and we have no intention of changing our position ... (But) we see what is happening in the industry.”

The company was founded in 1847 as a forwarding agent. It stores metals, chemicals, plastics and soft commodities.

Market talk about warehousing acquisitions has swirled since independent commodities trader Trafigura acquired LME-approved warehousing company NEMS Ltd earlier this year. [ID:nLDE6200W6]

Trafigura's acquisition followed that of Goldman Sachs GS.N for U.S.-based warehouse and logistics company Metro International trade services. [ID:nSGE61I04Z] (Reporting by Pratima Desai; editing by Sue Thomas)

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