Goldman Sachs Offers Aluminum to Clients Stuck in Queue
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Goldman Sachs Group Inc. offered to speed up delivery of aluminum to users of the metal and proposed changes to industry rules amid claims that its warehouse unit created shortages and drove up prices.
So far no client has accepted the bank’s offer to swap their metal stuck in queues for immediately available aluminum, Goldman Sachs President Gary D. Cohn, 52, said today in a CNBC interview. Consumers should have priority over other clients in getting aluminum out of warehouses and the London Metal Exchange system needs more transparency, Goldman Sachs said in a statement.