Alcoa Commends LME Board Decision

Alcoa

commends the London Metal Exchange (LME) for taking steps today to create a more transparent marketplace, which Alcoa recommended and industry participants broadly support. The immediate next step is for the LME to provide a clear timeline in which to implement this change. Alcoa believes this is key to ensuring a more transparent system which increases fairness and improves market function. Alcoa supports the LME's intention to examine creating premium contracts, which Alcoa recommended in its response to the LME's proposed warehouse rule changes. Premium contracts would provide market participants the ability to hedge exposure to the all-in price. We look forward to working with the LME to develop these contracts. Alcoa is