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E.U.: Consumers say aluminum prices unfairly increased by warehouse owners

By  |  December 3, 2012

The Federation of Aluminium Consumers Europe has filed a complaint to the European Commission against owners of metal warehouses for driving up prices for manufactures, according to the consumer body. While the companies being accused of the price increases were not named, FACE said that they are driving up costs by delaying the release of the product, therefore forcing consumers to be left with the bill of storage costs, which increase the longer they stay in the warehouse before shipping out. Glencore and Trafigura, two companies that own warehouses in Europe, declined to comment when approached by Reuters.

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    Full Content: Reuters

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