Alcoa supports RUSAL's proposal to disclose information about the origin of metal reserves at the LME

Alcoa Corp., a leading U.S. aluminum producer, said it backs a proposal by Russian aluminum giant RUSAL last week that the London Metal Exchange (LME) provide market participants with monthly reports on the provenance of all of the world's registered stocks of aluminum and other metals on warehouses approved by the LME.

Alcoa said the important issue at the moment is to ensure increased market visibility for Russian aluminum, which will allow the LME and market participants to keep a close eye on the situation.

The LME said last week that it is considering the format of the monthly reports it will publish and will work to ensure that the format meets the needs of all stakeholders.