Goldman to sell metals warehouse business

Goldman Sachs has put its metals warehouse business up for sale, according to a spokesman.

MarketWatch reports that Goldman is “exploring a sale” of Metro International Trade Services LLC, an operator of warehouses that store metal traded on the London Metal Exchange, said Michael DuVally, a spokesman for the firm. The planned sale was reported earlier by Reuters.

The decision to sell Metro comes as some other Wall Street banks pull back from commodity markets amid increased regulatory oversight. J.P. Morgan agreed to sell its metal warehouse business along with the rest of its physical commodities business to Mercuria Energy Group in March.

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Goldman puts metals warehouse business up for sale

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