London Metal Exchange Under E.U. Scrutiny

Law360, New York (October 5, 2006, 12:00 AM EDT) -- The London Metal Exchange has become the target of a European Union antitrust investigation amid a bevy of complaints from irate copper users over its alleged monopolistic practices.

The E.U.'s competition authority is now investigating whether the LME somehow restricted the free market and abused its dominant position, the London Daily Telegraph reported.

Angry notes from the International Wrought Copper Council, which has accused the LME of putting a stranglehold on the market to drive up prices and give brokers higher profits, prompted the probe....
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