Ruling forces LME to put warehouse plan on hold

03/28/2014 | Reuters · Bloomberg · Financial Times (tiered subscription model) · Reuters

The High Court in London has ruled in favor of Russia's Rusal, forcing the London Metal Exchange to suspend its plans to reduce queues at its warehouses. The court said LME's consultations on the matter had been "unfair and unlawful." Rusal had said that LME had not considered every option for the warehouse issue. The ruling bolsters CME Group as it prepares to challenge the largest aluminum contract in the world.

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