(Reuters) – Warehouses in the New Orleans area that store aluminum, copper and other industrial metals are functioning normally in the wake of Hurricane Ida and subsequent power outages across the region, sources told Reuters.
New Orleans accounted for roughly 4% of metal inventory stored in warehouses approved by the London Metal Exchange at the end of July.
The sources, who declined to be identified, say at this stage there has been no impact on metal storage facilities in New Orleans due to physical defenses installed after Hurricane Katrina.
The Port of New Orleans – a major U.S. shipping facility at the mouth of the Mississippi River – reopened last Thursday following Ida’s Aug. 29 landfall, which knocked out power to the entire region for days.
Meanwhile, the region’s oil production, refining and transportation networks remain largely shuttered due to facility damage and other challenges.
(Reporting by Pratima Desai; writing by Ernest Scheyder; Editing by Lisa Shumaker)
