The Conversation (0)
- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
Top Stocks
Top Resource Stocks
Top Tech Stocks
Top Life Science Stocks
Trending
Trending Articles
Trending Press Releases
Trending Companies
Trending Reports
Resource
Popular Lists
Investing Ideas
Outlook Reports
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
Investing Guides
Tech
Popular Lists
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
Investing Ideas
Outlook Reports
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
Investing Guides
Life Science
Popular Lists
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
Outlook Reports
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Investing Guides
Goldman Sachs, JPMorgan and More Accused of Zinc Price Manipulation
May. 26, 2014 11:09AM PST
Base Metals Investing Reuters reported that this past Friday, Duncan Galvanizing Corp., one of the oldest galvanizers in the United States, accused Goldman Sachs Group Inc. (NYSE:GS), JPMorgan Chase & Co. (NYSE:JPM), the London Metal Exchange and metal warehouse operators of working together to manipulate the US zinc price. Duncan alleges that they have been doing so since 2010.
Reuters reported that this past Friday, Duncan Galvanizing Corp., one of the oldest galvanizers in the United States, accused Goldman Sachs Group Inc. (NYSE:GS), JPMorgan Chase & Co. (NYSE:JPM), the London Metal Exchange and metal warehouse operators of working together to manipulate the US zinc price. Duncan alleges that they have been doing so since 2010.
As quoted in the market news:
The suit, registered in the Southern District of New York, is the first to include allegations over the impact of warehousing on the smaller, niche zinc market. Zinc is used to coat steel to protect against corrosion.
The lawsuit names as defendants the mining and commodities trading group Glencore Xstrata and its Pacorini Metals USA LLC unit. Metro International Trade Services, the metal warehousing of Goldman Sachs, is also named a defendant.
The lawsuit, which seeks class action status, echoes the allegations made in 26 suits that have been consolidated into a class-action suits over alleged price fixing of the aluminum market in the United States.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.Â