Reuters
Aluminium supply decreased, premiums jumped
Edited by : AL CIRCLE
1 min read
Bank financing deals which have tied up large amounts of aluminium in London Metal Exchange warehouses has led some suppliers to impose surcharges, German luxury carmaker BMW (BMWG.DE) said on Friday.
Metal industry sources estimate these deals have tied up a hefty 70 percent or 3.3 million tonnes of record high aluminium stocks -- 4.7 million tonnes in LME-registered warehouses.
Frank Wienstroth, who overseas communications on the supply chain and sustainability said BMW was aware of the bank deals, "although it does not impact our hedging decisions".
Metal industry sources estimate these deals have tied up a hefty 70 percent or 3.3 million tonnes of record high aluminium stocks -- 4.7 million tonnes in LME-registered warehouses.
Frank Wienstroth, who overseas communications on the supply chain and sustainability said BMW was aware of the bank deals, "although it does not impact our hedging decisions".
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