Alcoa's Position OnLME WAREHOUSINGAs the leading U.S. aluminum producer, and an aluminum consumer, Alcoa has serious concerns with the London Metal Exchange’s (LME) proposal to alter warehouse rules. Alcoa believes the proposed changes constitute a major market intervention and that the LME should suspend any imminent plans to implement its proposal. In addition, Alcoa proposes that LME owner Hong Kong Exchanges and Clearing, immediately mandate practices to improve transparency to enhance market efficiency and confidence in the LME as the price-setter for aluminum.

WAREHOUSING AGREEMENT

LME WAREHOUSING

TRANSPARENCY