LME must address price transparency: execs

Sep 18, 2013 | 03:09 PM | Andrea Hotter

Tags  aluminum prices, aluminum premiums, price transparency, price-setting mechanisms, London Metal Exchange, LME, 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 Russia’s United Co. Rusal.

Speculators have become a key part of LME trading, and their influence means metal prices aren’t truly reflecting supply and demand, he said at AMM sister publication Metal Bulletin’s 28th International Aluminium Conference in Geneva.....

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