The LME lawsuit that's metal as anything

The dramatic courtroom showdown between a Russian oligarch at the head of Rusal and the London Metal Exchange illustrates deeply conflicting interests between producers, consumers and investment banks.

A court case in London’s High Court of Justice brought by the Russian aluminium producer Rusal against the London Metal Exchange has laid bare the conflicting interests of producers and consumers in the business of buying and selling aluminium. It is a complex but rewarding story exhibiting capitalism red in tooth and claw.

The fine cast includes brewers like Coors, who buys aluminium cans for their lager, and Goldman Sachs, who makes plenty of money through their ownership of warehouses in which aluminium bought on the LME is stored.


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