Alcoa has ‘no plans’ to sue LME

Jan 10, 2014 | 11:29 AM | Andrea Hotter

Tags  Alcoa, aluminum, London Metal Exchange, LME, Klaus Kleinfeld, UC Rusal, warehousing rules, lawsuit Andrea Hotter

NEW YORK — Aluminum producer Alcoa Inc. has no plans to sue the London Metal Exchange over the latter’s proposed changes to its warehousing rules, the company said.

Alcoa has seen the lawsuit filed by Russian industry peer United Co. Rusal (UC Rusal) and "understands where they are coming from," chairman and chief executive officer Klaus Kleinfeld said.

UC Rusal claimed in its lawsuit that the new policy breaches its rights under the European Convention on Human Rights (amm.com, Dec. 24).....





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