Goldman offers aluminum to defuse LME row

Jul 31, 2013 | 03:35 PM | Michael Cowden

Tags  Goldman Sachs, Metro International, warehouse, LME, aluminum, michael cowden

CHICAGO — Goldman Sachs Group Inc. will provide end-users with "immediately available aluminum" after criticisms about long waits for metal at warehouses.

The New York-based bank said July 31 it also is making suggestions to improve London Metal Exchange policies and "taking unilateral action" to help end-users get metal stored in warehouses operated by Metro International Trade Services LLC, which Goldman acquired in February 2010.

"Goldman Sachs is contacting end-users to offer to swap any aluminum currently in the queue for immediately available aluminum so that they have access to the metal they need to make or package their products," the bank said.....





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