Norilsk Billionaire CEO Calls for Bank Exit From Metals Storage
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Billionaire Vladimir Potanin, the head of the world’s largest producer of nickel and palladium, urged regulators to take measures to prevent banks from manipulating markets by storing and trading metals.
“Banks should be focused on their core business, which is definitely not keeping metals stockpiles,” Potanin, OAO GMK Norilsk Nickel’s chief executive officer, said in an interview in Moscow. “Regulators should really look into this issue closely and facilitate measures to change the situation.”