LME, banks face another zinc lawsuit

Galvanizers Co has filed a class-action lawsuit against the London Metal Exchange, Glencore Xstrata, Goldman Sachs Group, JPMorgan Chase & Co and their respective warehousing units over alleged warehouse manipulation that it claims has driven up US zinc premiums.

The trading houses "conspired to manipulate global warehouse supplies of zinc through numerous anti-competitive means, in concert with the LME," and have "injured purchasers of zinc for physical delivery globally and in the United States" from "at least May...

Published

This article was first published by AMM

July 14, 2014

06:01 GMT

New York