World’s largest silver producer slams silver benchmarking controversy
By GCRU Gold News on Tuesday, February 2 2016, 02:50 - Permalink
KGHM, one of the largest producers of copper and the single largest producer of silver in the world, called the difference between the prices “very alarming” and called on the London Bullion Market Association (LBMA) to provide an explanation.
“The large discrepancy between the spot price and the fix is very alarming to us especially that it happened twice in a row,” KGHM head of market risk Grzegorz Laskowski told FastMarkets.
“I think the LBMA needs to make every effort to explain why it happened and needs to help to develop a system that would help to avoid these kind of situations in the future,” he added.
World’s largest silver producer slams silver benchmarking controversy