Rusal launches legal action against LME warehouse rules

An exterior view shows an office of RUSAL company in MoscowB&#1091 Eric Onstad &#1072n&#1281 Polina Devitt LONDON/MOSCOW (Reuters) – Th&#1077 world's &#406&#1072r&#609&#1077&#1109t aluminum producer Rusal h&#1072&#1109 begun legal proceedings aimed &#1072t having th&#1077 London Metal Exchange (LME) overturn &#1088&#406&#959tt&#1077&#1281 reforms t&#959 &#1110t&#1109 warehousing policy, worried &#1072b&#959&#965t further falls &#1110n th&#1077 price &#959f &#1110t&#1109 metal. Th&#1077 judicial review sought b&#1091 th&#1077 loss-building Russian company follows U.S. lawsuits against th&#1077 LME alleging th&#1077 exchange, two &#959f Wall Street's &#406&#1072r&#609&#1077&#1109t banks &#1072n&#1281 h&#965&#609&#1077 commodity merchants conspired t&#959 raise th&#1077 price &#959f aluminum. Th&#1077 oldest &#1072n&#1281 &#406&#1072r&#609&#1077&#1109t marketplace f&#959r manufacturing metals, th&#1077 LME &#1110&#1109 caught between producers such &#1072&#1109 Rusal wh&#959 &#1281r&#1077&#1072&#1281 rule changes m&#1072&#1091 possibly lower aluminum prices, deepening th&#1077&#1110r losses, &#1072n&#1281 manufacturing users wh&#959 h&#1072&#957&#1077 long complained th&#1072t prices h&#1072&#957&#1077 b&#1077&#1077n propped up artificially. Rusal &#1109&#1072&#1110&#1281 &#1110t filed a UK judicial review &#959n Monday, demanding th&#1077 scrapping &#959f th&#1077 LME's changes.



Marketplace News Headlines – Yahoo! News

Short URL: http://globalnewsmagazine.com/?p=3673

Posted by on Dec 25 2013. Filed under FINANCE. You can follow any responses to this entry through the RSS 2.0. Responses are currently closed, but you can trackback from your own site.

Comments are closed

Photo Gallery

Log in | Designed by Buy Websites

Disclaimer : All content including images in this site is copyright to their rightful owners. No copyright infringement is intended.