H&M Metal Warehousing agrees $100,000 settlement with London Metal Exchange-LME

LONDON, May 30 (Reuters) - Warehouse operator H&M Metal Warehousing has agreed to pay $100,000 to settle disciplinary proceedings with the London Metal Exchange relating to alleged breaches of its warehousing policy, the LME said in a statement on Wednesday.

H&M has admitted no breaches of policy as part of the settlement, the statement said.

The LME alleged that between March and June last year, warehouses operated by H&M in Taiwan (Taiwan OTC: 6549.TWO - news) failed to deliver out copper cathodes in line with their obligations. (Reporting by Jan Harvey, editing by David Evans)