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Calls to review LME lending rules

August 30, 2010 - 00:00 GMT

Moving the goalposts - Traders disgruntled by ‘unjustified’ Al backwardation

Some London Metal Exchange members have asked the exchange to consider reviewing its lending guidance with the emergence of two large aluminium warrant holders and the backwardation, MB sister publication AMM understands. The LME has received informal requests to review its lending guidance and the issue could be discussed at the next LME board meeting, AMM understands. “A few people are touting it and asking the LME to check what they’re doing. It’s a good opportunity to keep it under surveillance,” said a senior executive at a ringdealing member. There are two market participants each...

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