Scrap traders shy on LME hedge 'gamble'

Newswire

By Declan Conway OSLO, May 26 (Reuters) - Aluminium scrap dealers on Monday raised doubts over using London Metal Exchange (LME) furtures as a hedging tool, despite assurances from a major LME trader that it could offer their market more transparency and less volatility. The LME has two aluminium alloy futures contracts: one Standard Alloy contract, and the North American Secondary Aluminium Alloy Contract (NASAAC). "The connection between the LME and aluminium scrap prices, at least ...

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