US Senators call for investigation of aluminum markets

Three U.S. senators including, Sherrod Brown and Elizabeth Warren, on Friday urged the Commodity Futures Trading Commission to "thoroughly examine" the aluminum markets, which they said showed "ongoing irregularities."

Brown, who has been fiercely critical of the role that Wall Street banks play in commodity markets, also urged the CFTC to review the London Metal Exchange before granting it status as a so-called Foreign Board of Trade.

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Brewers—who use aluminum for beer cans—and other manufacturers have been complaining about inflated prices because of artificially high stocks in metals warehouses, such as those run by the LME, owned by the Hong Kong Stock Exchange.