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Commodity warehouse ownership rules need rethink

Posted on 10 July 2013

Conflicts of interest over ownership of commodity warehouses can inflate prices of raw materials such as aluminium, a report by two Brussels think-tanks said on Tuesday. It is likely to add to market pressure to reform the London Metal Exchange’s (LME) storage system, in which companies such as Glencore and Goldman Sachs have been able to make profits from holding big inventories.
The report published on Tuesday follows more than a year of data-gathering to assess the relationship between physical raw materials and derivatives markets………………………………………..Full Article: Source


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