NEW YORK: Alcoa Inc has no plans to follow Russian aluminum producer Rusal and launch legal action against the London Metal Exchange aimed at overturning reforms to its warehousing policy, Chairman and Chief Executive Klaus Kleinfeld said on Thursday.
The U.S. aluminum producer and Rusal have staunchly criticized the LME for implementing changes, which will speed up the rate at which metal is delivered out of storage locations and is expected to pressure the physical prices of aluminum.
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