Aluminium producers demand LME release more positioning, warehouse data
The world’s two biggest aluminium producers are calling on the London Metal Exchange (LME) to boost transparency by releasing more detailed data on long and short positions as well as about who are holding inventories.
The world’s two biggest aluminium producers are calling on the London Metal Exchange (LME) to boost transparency by releasing more detailed data on long and short positions as well as about who are holding inventories.
Russia’s United Company Rusal and US-based Alcoa are urging the LME, the world’s biggest marketplace for industrial metals, to match its US rival, the CME Group , in providing data about the make-up of investors positions.
“There is a need for greater transparency in the London Metal Exchange’s disclosure of commercial and non-commercial positions on the exchange,” Oleg Mukhamedshin, Rusal’s deputy chief executive, told Reuters on Wednesday.
“The LME could provide appropriate access to its existing data that would transform the way we understand how the aluminium market is now working.”
Rusal is the world’s biggest producer of the metal used in transport and packaging, while Alcoa is No. 2.
In the United States, the Commodity Futures Trading Commission (CFTC) requires exchanges to release detailed positioning information. The resulting Commitment of Traders weekly reports are closely watched by investors.