Aluminum Futures Debut on CME Amid Wrangling on LME Rules
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CME Group Inc. futures trading started for aluminum that can be loaded from U.S. warehouses, a move supported by companies including MillerCoors LLC amid delays at depots linked to the London Metal Exchange.
The new contract offers the global industry a “North American benchmark for managing price risk” with access to the metal at warehouses in Baltimore, New Orleans and Ypsilanti, Michigan, CME Group, the Chicago-based owner of the world’s largest futures exchange, has said.