#Latest news with #MercuriaEnergyBloomberg7 days agoBusinessBloombergLME Intervenes to Make Mercuria Roll Huge Aluminum PositionThe London Metal Exchange has compelled Mercuria Energy Group Ltd. to lend out its huge position in aluminum to other traders to reduce risks to the market, according to people familiar with the matter. The LME took action after Mercuria's position in the June contract was consistently far bigger than the aluminum inventories in the exchange's warehouse system — most of which are also already owned by Mercuria, the people said. That means that if Mercuria were to hold the position to expiry, those on the other side of the market might struggle to find sufficient aluminum to deliver against their short positions.
Bloomberg7 days agoBusinessBloombergLME Intervenes to Make Mercuria Roll Huge Aluminum PositionThe London Metal Exchange has compelled Mercuria Energy Group Ltd. to lend out its huge position in aluminum to other traders to reduce risks to the market, according to people familiar with the matter. The LME took action after Mercuria's position in the June contract was consistently far bigger than the aluminum inventories in the exchange's warehouse system — most of which are also already owned by Mercuria, the people said. That means that if Mercuria were to hold the position to expiry, those on the other side of the market might struggle to find sufficient aluminum to deliver against their short positions.
7 days ago
