LME must address price transparency: execs
Sep 18, 2013 | 03:09 PM
| Andrea Hotter
GENEVA Aluminum industry executives have called for greater transparency in London Metal Exchange price-setting mechanisms, with one asking whether the exchange had turned into a casino.
"Is the LME there for price setting or has it become a gambling house?" said Vladislav Soloviev, first deputy chief executive officer of Russias United Co. Rusal.
Speculators have become a key part of LME trading, and their influence means metal prices arent truly reflecting supply and demand, he said at AMM sister publication Metal Bulletins 28th International Aluminium Conference in Geneva.....
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