Aluminum faces massive losses on LME rule shift: JPMorgan
Aug 30, 2013 | 05:43 PM
| Michael Cowden
CHICAGO More than 90 percent of the aluminum industry could fall into the red if aluminum prices and premiums decline due to proposed changes to London Metal Exchange warehousing rules, JPMorgan Chase & Co said in a research note.
A decline in realized aluminum prices to $1,950 per tonne would lead some 75 percent of the aluminum industry to lose money, with that share rising to 90 percent or more with a further decline to $1,800 per tonne, JPMorgan analyst Ben Defay said in an Aug. 30 note.....
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