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Al suppliers pull out of financing deals as premiums soar
Edited by : AL CIRCLE
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Apr 16, 2010...Aluminium suppliers that are holding metal in London Metal Exchange-bonded warehouses are breaking or not renewing financing deals as they look to exploit soaring premiums in Europe, sources said. LME aluminium stocks stand at close to 4.6 million tonnes, but much of that material has been unavailable for months because it has been tied up in financing deals.
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