01 AUGUST 2013Reuters
U.S. futures regulators should review aluminum market, US lawmaker says
Edited by : AL CIRCLE
1 min read
U.S. futures regulators should review alleged manipulation of the aluminum market, the head of the Senate Agriculture Committee said on Tuesday.
Committee Chairwoman Debbie Stabenow noted that in congressional testimony last week, buyers of aluminum alleged that the current market price was being skewed by those who own and profit from the storage of metal at warehouses.
"I am writing to encourage you to further review this issue and clarify the role and responsibility of the Commodity Futures Trading Commission to address the situation," Stabenow wrote in a letter to Gary Gensler, chairman of the CFTC.
Committee Chairwoman Debbie Stabenow noted that in congressional testimony last week, buyers of aluminum alleged that the current market price was being skewed by those who own and profit from the storage of metal at warehouses.
"I am writing to encourage you to further review this issue and clarify the role and responsibility of the Commodity Futures Trading Commission to address the situation," Stabenow wrote in a letter to Gary Gensler, chairman of the CFTC.
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