LME warehouses cost buyers billions: MillerCoors
Jul 23, 2013 | 10:24 AM
| Andrea Hotter
NEW YORK The London Metal Exchange warehouse systems lengthy queues and high premiums paid for metal is costing aluminum buyers billions of dollars a year, according to one large consumer.
The system has cost MillerCoors LLC "tens of millions of dollars in excess premiums over the last several years, with no end in sight," said Tim Weiner, global risk manager of commodities and metals for the Chicago-based brewer. "My company and others estimate that last year alone the LME warehouse rules....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.