US senator adds to call for more oversight, investigative powers on aluminium pricing

A United States senator has introduced bipartisan legislation in the country’s senior legislative body, the Senate, that would allow more oversight of price reporting and price-setting entities that operate in the aluminium markets.

The legislation was promoted by Cory Gardner, a Republican Party member from the state of Colorado. It builds on a bill introduced into the lower House of Representatives late last month by a fellow Colorado Republican, Ken Buck, along with Jim Costa, a Democratic Party member from California. If it is eventually approved, the Aluminum Pricing Examination (APEX) Act would provide the US regulator, the Commodities Futures Trading Commission (CFTC), with a clear mandate to conduct oversight of price reporting and price-setting entities within the aluminium markets and to investigate them if necessary. The Act would allow the US Department of Justice to work in conjunction with the CFTC on any information relating to anti-competitive conduct in the reporting of aluminium prices, and provide clarity about which agencies have jurisdictional authority...

Published

Andrea Hotter

October 17, 2018

19:45 GMT

New York