Goldman Sachs offers aluminium to defuse LME row

Goldman Sachs Group will provide end users with "immediately available aluminium" after criticisms over long waits for metal at warehouses.

The New York-based bank said on Wednesday July 31 that it will also make suggestions to improve London Metal Exchange policies and will be "taking unilateral action" to help end-users get metal stored in warehouses operated by Metro International Trade Services, which Goldman acquired in February 2010. "Goldman Sachs is contacting end users to offer to swap any aluminium currently in the queue for immediately available aluminium so that they have access to the metal they need to make or package their products," the bank said. It...

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This article was first published by AMM

August 01, 2013

09:11 GMT

Chicago