Regulations on Aluminum Warehouse Receipts Modified

2006.10.11

The aluminum contract unit will be changed from 10,000 kg to 5,000 kg per contract, effective on October 27th, 2006 (applicable from the October 2007 contract onward).

The delivery unit is scheduled to be changed from 50,000 kg to 25,000 kg when all the 50,000 kg warehouse receipts in circulation have been canceled.

In accordance with these changes, the regulations on aluminum warehouse receipts will be modified as specified below.

1. Even though it has been stated in Article 8 of the Delivery Regulations on Aluminum that one must issue warehouse receipts based on the delivery unit (50,000 kg), it is required to issue warehouse receipts based on 25,000 kg in or after December 2006.

2. When using 25,000 kg warehouse receipts for delivery, 2 warehouse receipts from the same warehouse, for the same brand, and of the same shape shall be used per 1 delivery unit (50,000 kg), and the tolerance limit on the weight variation of the product delivered shall be within 2% of 25,000 kg for each said warehouse receipt.

 

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