The LME undertakes regular reviews of its physical market operations and warehousing network to ensure they continue to support fair, transparent and efficient market functioning. This page provides access to current consultations and previous reform programmes.
Physical Markets Consultation and Discussion Paper 2026
In March 2026, the LME published a consultation exploring potential enhancements to its physical market operations, including the warehousing network. The consultation considers measures aimed at improving transparency, efficiency and competition.
26 063 LME Physical Markets Consultation and Discussion Paper (PDF)
Physical markets reform
Physical markets reform 2026
On 9 March 2026, the LME issued a consultation exploring potential improvements to its physical market operations and warehousing network
Warehouse reform 2019 - 2020
Between 2019–2020, the LME consulted on and implemented reforms to strengthen its global warehouse network
Warehouse reform 2013 - 2016
Between 2013 and 2016, the LME introduced a series of reforms to strengthen transparency and performance across its global warehouse network