Manufacturers Accuse Banks of Hoarding Aluminum. Reform Opportunies Missed? (Reuters)
Manufacturers have filed lawsuits in the United States accusing the London Metal Exchange (LME), banks and traders of causing prices to jump for aluminum by storing the metal in warehouses owned by the banks and traders. Among those firms accused of anti-trust violations are Goldman Sachs, JPMorgan and Glencore-Xstrata. A series of reform initiatives focused on the LME from 1996-2011 have been inconsistently and incompletely implemented, leaving the exchange open to these charges.
“There’s more wisdom in your book than four years of college education!” -- Subscriber Back…
There is a famous saying that has been floating around the internet regarding the “Five…
Today is May 1, a day that’s also known as “May Day” in many countries…
Ten reasons to day-trade with mentors in a virtual room highlight why now is a…
Last year’s fourth-quarter downtrend for inflation looks to have bottomed out at just under the…
The intrinsic and extrinsic value of an option make up the total value of the…