NEW YORK Jan 9 Alcoa Inc. has no plans
to file a lawsuit against the London Metal Exchange aimed at
overturning sweeping reforms to its warehousing policy, Chairman
and Chief Executive Klaus Kleinfeld said on Thursday.
The U.S. aluminum producer has been a staunch critic of
planned changes, which are due to come into effect in April and
will speed up the rate at which metal is delivered out of
storage locations with long wait-times.
Last month, the world's biggest aluminum producer, Rusal
, launched legal action, demanding that the
LME, the world's oldest and biggest metals exchange, scrap the
Producers worry the new rules will hurt physical aluminum