Jeddah Islamic Port Joins London Metal Exchange for Copper & Zinc

The Saudi Ports Authority (Mawani) has announced the listing of Jeddah Islamic Port on the London Metal Exchange (LME). The achievement was facilitated through Mawani's strategic partner, LogiPoint, a subsidiary of the Cisco Group.

This initiative is set to enhance the Kingdom's attractiveness as an investment destination, establishing Jeddah Islamic Port as a central distribution centre for metals. The listing is expected to boost market liquidity and provide an additional delivery option for copper and zinc, benefiting the mining sector by offering a more convenient trading platform for mineral resources. Additionally, it aims to improve supply chain efficiency by reducing transportation and storage costs for metals.

The London Metal Exchange, renowned as a leading global exchange for industrial metals trading, facilitates the majority of non-ferrous metals futures contracts through its platforms.