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Commodities Briefing - Categorized | Financial, Market Moves more

Why do banks own physical commodity assets?

Posted on 07 August 2013

The average Joe on the street would be forgiven for thinking that banks are supposed to move money, not metal. But events in recent weeks have put paid to that misconception.
Last week in a lawsuit filed in a Detroit court, aluminium product manufacturer Superior Extrusion sued Goldman Sachs, along with the London Metal Exchange, for alleged “anti-competitive and monopolistic behaviour in the warehousing market in connection with aluminium prices”, according to Hong Kong Exchanges and Clearing, the parent company of the LME………………………………………..Full Article: Source


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