date:Jul 30, 2014
Its been a year since the US Senate held a hearing on logjams at metal storage facilities and rising fees. Since then, costs have gone up and waiting times for delivery at some sites are even longer.
The London Metal Exchange, which oversees more than 700 warehouses, has been blocked from easing delays by Moscow-based United Co. Rusal, which as the worlds biggest aluminum producer stands to lose from shorter backlogs. The LME issued a new rule that storage facilities with the longest wait times