Jeddah Islamic Port Listed on the London Metal Exchange

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 Saudi Industrial Services Co (SISCO), underscoring the port's pivotal role in supporting global trade.The listing of the port on LME as a new delivery hub for copper and zinc contributes to raising the Kingdom's status as a global logistics platform, enhances its attractiveness as an investment destination for global stock exchanges, and places the port on the global platforms for storage of minerals traded on stock exchange, transforming it into a global distribution center.This achievement strengthens the Kingdom's position in the global metal supply chain, and this will contribute to increasing market liquidity and providing an additional option for delivery of materials to attract more investors and improve supply chain efficiency.LME is one of the largest metals trading exchanges in the world; it is a global hub for industrial m etals trading, with the majority of non-ferrous metal futures business taking place across its platforms, increasing its effective role in promoting global trade.Source: Saudi Press Agency