Physical aluminum contract needed to help mart
May 15, 2014 | 02:02 PM
| Nathan Laliberte
PHILADELPHIA The North American aluminum market needs exchange-traded physical contracts that allow market players to actively participate in a regional pricing strategy and properly manage risk exposure, according to panelists at AMMs Aluminum Summit in Philadelphia.
"The global pricing strategy based on the (London Metal Exchange) contract is less relevant to the North American market," Bob Biolsi, senior director of energy research and product development at Chicago-based CME Group Inc., said in response to a question about the long-term viability of CMEs new North American aluminum contract, which was launched May 6. "We wanted to move to a regional pricing strategy. Our initial launch ... is really focused on the U.S. market. By doing so, we will be able to allow the industry to readily evaluate fundamentals."....
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