CME aluminum contract good for mart: traders

May 08, 2014 | 06:42 PM | Nathan Laliberte

Tags  CME Group, aluminum futures, aluminum, LME, London Metal Exchange, Midwest premium, Comex, Nathan Laliberte

NEW YORK — Initial reactions to CME Group Inc.’s new aluminum futures contract have been mostly positive, although sources warned that the long-term success of the contract hinges on active participation from all sides of the market.

"We’re quite interested and supportive of it," one trader said of the contract. "We believe anything that can add more liquidity and bring clarity to the market is good."

Prior attempts to establish aluminum futures contracts were hampered by "limited warehouse locations, shape restrictions" and muted interest from market participants, the trader noted.....

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