Goldman Talking To Bidders About Controversial Metals Warehouse

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Mark Melin
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Goldman Sachs

Goldman Sachs Group Inc (NYSE:GS) is exiting the controversial metals warehousing operation amidst regulatory concerns and a political battle with large US beverage manufacturers. Goldman exiting metals warehousing business After four years in the business, the Wall Street bank is contacting potential buyers for its Detroit-based Metro International Trade Services, Reuters is reporting. While the bank is looking to exit the metals warehousing business it will remain in the metals trading business, retaining the J Aron trading division that is one of Wall Street’s largest commodity trading firms. Beverage manufacturers had charged that the metals warehouses were artificially driving up the…

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Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.