07.10.2013 - Aluminum costs seen dropping as LME unclogs depots: Commodities
The London Metal Exchange’s plan to ease congestion at warehouses storing near-record amounts of aluminum will accelerate deliveries and reduce premiums paid for supply, at a time when prices are already near a four-year low. Waiting times lengthened to a year or more in some locations, driving premiums added to the LME price to a record. Delays at depots spurred at least 16 lawsuits filed in U.S. courts as well as scrutiny from lawmakers and regulators. The surcharges, which rose almost 15-fold since 2008, are now retreating as traders anticipate the changes, which are scheduled to be reviewed by the LME’s board this month...............................................Full Article: Source
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