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EU: Commission joins skepticism of metals warehousing cartel claims

By  |  November 13, 2013

The European Commission confirmed that it is monitoring the metals warehousing industry following allegations of price-fixing and product hoarding, though reports say the authorities have not launched a formal probe into the matter as US regulators have done.

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    Accusations claiming market manipulation by warehouse owners and the London Metal Exchange lead to the US Commodity Futures Trading Commission to subpoena some of those firms, including Glencore Xstrata, to obtain information regarding the allegations.

    EU officials confirmed Wednesday that they are “monitoring the situation,” though did not declare a formal, in-depth investigation into the matter.

    Full Content: Reuters

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