World Economy

LME Takes Battle to Washington

LME Takes Battle to WashingtonLME Takes Battle to Washington

Fresh from a court win in Britain, the London Metal Exchange (LME) now faces one of its biggest hurdles yet in its years-long crisis over its warehousing policy that consumers say has inflated prices: convincing US lawmakers its reforms are enough. When Britain’s Court of Appeal handed a victory to the LME last week, knocking out a challenge to the reforms by Russian aluminum giant Rusal last week, the LME’s head of business development, Matt Chamberlain, was in Washington, Reuters said. Chamberlain was there to plead the exchange’s case with lawmakers who have been pushing for even greater change to the LME’s warehouse policy.