Financial Times
LME rule disappoints aluminium consumers
Edited by : AL CIRCLE
1 min read
Some of the world’s largest buyers of aluminium reacted with disappointment on Friday to a long-awaited decision by the London Metal Exchange to change its warehousing rules.
General Motors, one of the world’s largest automakers, and Novelis, a leading aluminium processor, told the Financial Times that the LME’s move to double the rate at which the largest warehouses must deliver metal did not go far enough.
The controversy has sparked a fierce debate in the metals community, pitching consumers against Wall Street banks and traders who own warehousing companies.
General Motors, one of the world’s largest automakers, and Novelis, a leading aluminium processor, told the Financial Times that the LME’s move to double the rate at which the largest warehouses must deliver metal did not go far enough.
The controversy has sparked a fierce debate in the metals community, pitching consumers against Wall Street banks and traders who own warehousing companies.
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