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Business Daily: Aluminium warehousing - the price of queues

08/11/2013

Aluminium warehousing - the price of queues

BBC World Service - Business Daily, Aluminium warehousing - the price of queues

The London Metals Exchange is tackling unprecedented queues at aluminium warehouses.

As the London Metals Exchange announces new rules to cut unprecedented year-long queues at aluminium warehouses, we ask what all the fuss is about.

The London Metals Exchange has announced new rules to cut unprecedented year-long queues at aluminium warehouses.
That may sound esoteric, but those hold-ups affect the price of a metal used in everything from drinks cans to window frames to car chassis.
We speak to one of those losing his patience, Nick Madden of the aluminium rolling firm Novelis, who says that the warehouse owners - who include investment banks Goldman Sachs and JP Morgan - are profiting from the delays by charging extra rents.
We also speak to Garry Jones, the boss of the London Metals Exchange about what the new rules, unveiled on Thursday, will achieve.
Also in the programe, Lucy Kellaway takes a close look at the art of management in part six of her history of the office.

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