Cancelled aluminium warrants turn Vissingen into second Detroit
Dec 22, 2011 | 09:41 AM
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Cancelled aluminium warrants in Pacorini’s warehouses in Vlissingen have soared to 500,000 tonnes from zero in just two days, in a move market participants said would boost warehouses revenues in a similar way to Metro’s Detroit warehouses earlier this year.
Pacorini, owned by Glencore, is the only warehouse company that owns sheds in Vlissingen. Aluminium stocks in those locations have tripled in the second half of 2011 to 907,700 tonnes, after huge deliveries....
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