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Aluminum industry seen by JPMorgan unprofitable on LME rule

Posted on 02 September 2013

Two-thirds of aluminum producers would be losing money because of lower premiums paid on top of exchange benchmarks if the world’s biggest metals bourse approves rules to cut waiting times at its warehouses, according to JPMorgan Chase & Co.
Premiums to obtain the metal will drop 60 percent to about $100 a metric ton as a result of the new rules the London Metal Exchange is expected to approve in October, Benjamin Defay, an analyst at the bank in London, wrote in a report. The LME proposed to oblige warehouses where waits extend for 100 days or more to let more metal out than they take in………………………………………..Full Article: Source


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