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MillerCoors, Coca-Cola accuse big banks of manipulating aluminum market
Edited by : AL CIRCLE
1 min read
A MillerCoors LLC official will reportedly speak in front of the U.S. Senate Banking Committee next week to call out big banks for alleged anti-competitive actions in the aluminum market, according to a Huffington Post story published Tuesday.
The HuffPo story said Chicago-based joint venture MillerCoors and other companies, including Coca-Cola and Boeing, have concerns with banks like Goldman Sachs and JPMorgan Chase owning warehouses that store aluminum while also trading derivatives contracts tied to commodity prices. To read the full article, click here.
A MillerCoors spokeswoman declined to comment but said the company representative speaking to the Senate committee will be Tim Weiner, global risk manager for commodities and metals.
MillerCoors has a large brewery and administrative offices on Milwaukee’s west side.
The HuffPo story said Chicago-based joint venture MillerCoors and other companies, including Coca-Cola and Boeing, have concerns with banks like Goldman Sachs and JPMorgan Chase owning warehouses that store aluminum while also trading derivatives contracts tied to commodity prices. To read the full article, click here.
A MillerCoors spokeswoman declined to comment but said the company representative speaking to the Senate committee will be Tim Weiner, global risk manager for commodities and metals.
MillerCoors has a large brewery and administrative offices on Milwaukee’s west side.
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