CME approves first aluminium warehousing in Taiwan

Feb 27 (Reuters) - U.S. commodities exchange operator CME Group CME.O has approved its first aluminium storage facilities in Taiwan after receiving several applications for new warehousing in Asia, the biggest regional market for the metal.

In two separate notices late on Thursday, CME said it had approved two applications from warehousing firm C. Steinweg and one from Pacorini Global Services to store aluminium deliverable against its Comex aluminium futures contract ALIc1 in the southern Taiwanese port city of Kaohsiung.

Reuters reported this month that the CME was set to approve facilities in Taiwan and another new base metals warehousing location, Hong Kong, as part of efforts to make its aluminium contract gain more traction in Asia.

The London Metal Exchange already has warehousing in Hong Kong and Taiwan.

The total approved outdoor storage capacity for aluminium at the CME's Taiwan sites is 95,000 metric tons - 50,000 tons and 20,000 tons for the two Steinweg locations and 25,000 tons for Pacorini's facility.