London Metal Rules Fall Short, Beverage Groups Say

Proposed rule changes by the London Metal Exchange don’t go far enough to help alleviate warehouse backlogs that increase costs, according to a group of brewers and soft-drink makers that use aluminum in cans. The LME’s plan to speed up withdrawals from stockpiles in warehouses where wait times exceed 100 calendar days “falls short in terms of providing an efficient function for physical delivery,” the group said in a letter to the LME that was obtained by Bloomberg News. (Bloomberg)