. >> what is the difference between lme and cme? >> lme is based in monday. take a cut of storage fees. one percent of the fees go right to the lme. cme does not. they operate like a franchise, on their own. >> they do not wear tuxedos. >> i have never been there. >> there is a controversy at the lme. high premiums, what does that mean? >> doug says that he can get the metal out and days. in some warehouses, associated with the lme, lines are as long as 410 days. >> how can that be? >> that is one of the questions. there is one in detroit that is owned by goldman sachs. the longer you wait for your metal, the higher your premiums are. you have to pay more to get your metal because you're waiting so long. like of users anheuser-busch, they got squeezed. they were not hedging that risk. they got hurt and now they are making a lot of noise. >> we sell forklifts and big hunks of copper. why 410 days? >> if you could answer that question, someone would pay you a lot of money. some of the issue is banks. they wind up opening -- owning these warehouses. are they cre

here,e interesting thing the lme cannot actually control this.n make up for the loss of revenue. and you have buyers perhaps competing for the same metal. and they are restricting how much metal they can release every day. if you and me want that kind of metal, we will have to bid for it. envirostarm actually get control of where they get their metal. buyers don't actually get control of where they get their metal. they have to pay extra metal to get their money out of detroit. have control over these situations and they all raise costs. from all the producers, like alcoa, they are cutting back production so supply has become a little bit tighter. >> alex, thank you so much for giving us the latest. >> when we come back, a beauty contest for conservatives. that is former senator rick santorum at the seatac conference outside of washington. conference -- cpac outside of washington. he will tell you more, when we come back. ♪ >> first, bloomberg. onthis is "market makers" bloomberg television, i am erik schatzker with stephanie ruhle. do you want t

the lme gets a 1% cut, the cme does not. one of the lme's biggest warehouses is in detroit.roit owns about 1.5 million tons of aluminum. the charges about $.48 per ton per day. it is making $720,000 a day. the longer it stays, the more money it makes. money can be a very powerful motivator. >> what kind of disadvantage does this create for buyers? >> allegedly it wound up raising prices. if we look at premiums, what does a buyer have to pay over the spot price. it has really sort, up 90% since december. the buyers will tell you it left them at a disadvantage. for example, tim weiner is the global risk manager at miller-coors, he testified before the senate in july. here is what he had to say. we are forced to wait over 18 months to take physical delivery or pay the high physical premium to get aluminum today. it has cost miller-coors tens of millions of dollars. that might have inflated global aluminum prices by $3 billion in 2012. >> amazing, watch alix steel inside the copper trade right here on bloomberg television. here is some metal that moves faster. it might be that b

considers new restrictions on lme warehousing of metals. changes could be positive for the company's business. we are on the market again in 30 minutes. >> welcome back to the second half-hour of bottom line on bloomberg television. breaking news, the obama administration is releasing the latest enrollment figures or health care sign-ups as the end of the month deadline approaches. megan hughes is back with details. 6 million americans, that's the headline. that is hominy people have signed up for federal and state exchanges. targets the goal, the they were trying to meet by march 31. that was set by the congressional budget office. the white house is announcing it has been met a few days early. this is, they considered a win for them. president obama convened a call with health care navigators and volunteers today to share this news, to thank them for all of their hard work. the white house reports there has been a surge in the final days. the healthcare.gov website has gotten over a million hits in the last week. one thing to point out ab

it is a little firmer at the moment, but lme copper, the biggest weekly fall in 11 months, down 9% ont price over the last week. and it's -- you know, we're just rebalancing our thoughts about china. >> right. and copper, copper futures in shanghai sliding 4% in one day this week. sitting at its lowest in almost five years since 2009. it is concerned about copper because copper has been used as collateral in some of these corporate loans, industrial loans have been doled out in china. we have a rising level of defaults. >> it's all at the margin because the economy is now so much bigger than it was in 2000. growth at 7% is probably just as big as the -- the impact of that is just the same as it was in 2000. >> that's a good argument, but 7.5% for the gdp target this year is actually the lowest since 1990. can you believe that? >> yeah. and that's fine, but the economy is so much -- you know, the numbers mean the aggregate demand is going to be the same as it was when when you were growing at 12%, 15%. >> i get what you're saying. i think we have to come to the relation that china is g

the london metals exchange, lme and so forth, people report about this. already levels last year, judge. to see as it falls and gets to that key number pete talked about, three, as it broke through three and to see margin calls and all the rest, when money is virtually free when you can borrow so cheaply in as many as of folks have, you leverage up. these folks were the ones puking it here. >> what are these opportunities, murph? if at all. are you a buyer on any of these stocks paying the price vumtd of china's concern? >> i am a buyer. freeport yesterday, one of the main reasons is the catalyst of the dividend. once the dividend gets up over four, 4.08, i'm not calling a bottom in copper. i'm saying there's value in freeport after the recent sell-off. to the point of china as a whole we've had this come up as a potential canary in the coal mine several times in the last few years and it will hit the market short term and the market rallies and goes back higher. it's still going higher. is there a reason for concern? absolutely. there always is. i wouldn

the lme makes money for that. the cme does not. one of the biggest warehouses is in detroit.roit currently owns 1.5 million tons of aluminum. a charge about $.48 per ton per making 700 $20,000 a day, and the longer it stays, the moneyoney it makes, and can be a powerful motivator. >> what kind of disadvantage does this create for the buyers? >> allegedly, it wound up raising prices. if you look at premiums, they have really soared, up like 90% since december. buyers will tell you that has left them at a huge disadvantage. tim wiener is the global risk manager and miller coors. he testified before the senate. wait,d we are forced to in some cases, over 18 months to take physical delivery or pay the high physical premium to get aluminum today. it has cost miller coors tens of millions of dollars. he said it might have inflated global aluminum prices by $3 billion in 2011. >> thank you, alix steel at the nymex on the copper markets. ecb president, a speaking right now. we will keep our eye on breaking news. they're easy futures in reaction to the jobless claims. vicki much muted

down over the peninsula and east day we've seen some light showers as while lme gut as well. the peninsula and little bit more dry right now. more showers and approaching spotty showers agency and the dryer right now but more rain is certainly on the way. is turning out to be a big >> jacqueline: >> jacqueline: decrease in clouds we have more rain and the extended forecast as well and we will take x look at the extended forecast coming up. cattle ranchers. >> pam: is turning out to be a big problem for many local cattle ranchers. kron4 maureen kelly spoke to the operator to the operator of a bolinas ranch who claims their beef is good. they say, the recall is a waste of animals lives. and it is hurting them financially. >> reporter:these cows quietly grazing on the marin county coast are part of biill and nicollete niman's herd.ranchers who are part of the growing sustainable food movement. their cattle are fed only grass and hay.and never given hormones or antibotics in their feed. 426 head of cattle of the just like these were slaughtered last year at the rancho feeding cor

spot initially by lme lead county sheriff's department had castro valley home. or end a separate seat where they have come across the vehicle they have called us and thought it might be tied to our incident. but chp officers arrived they were arrested sports suspects. they found three guns and two confirmed that the two were stolen. chp is not say whether those guns are a match for the shell casings found on illness and 580 or the ball found lodged in of lot nearby home. nevertheless accords are found to announce those they believe are responsible. with so the light that what happens of the allied * your that they're never in a separate again as great a law enforcement was able to have a level of awareness to react to that. and bring several people into custody. >> : at this point authorities are not saying career of the suspects' names are. >> : where the first cell become the four suspects had been are arrested our reporter was interviewing him when it ought to see that the message was received. airline chp has arrested four men in conjunction with 580 shootin

they are really tightening and the lme decisions, prices for aluminum will go up.it has run, but it's not a sell. >> and that has been the problem is the raw product, not the finished product. >> yes, because the finished product has been doing very well. the idea has been if the raw product could go up, maybe they could cleave it off and maybe create two companies, that would be the value. >> chinese stimulus seems to be playing through other stocks. >> you are seeing it in the caterpillars, and the iron makers. watch cliff. i mean, cliff, remember that one? >> sure. >> cliff's natural. if there is a stimulus plan announced sunday, we will go higher again on monday. >> yeah. with that, let's get to consumer sentiment. rick santelli's got it in chicago, rick? >> the university of michigan sentiment survey 80.0. 80 right on the nose. this is close to expectations. you could say a little light. our last read which was the preliminary for march at 79.9 was very close to this number obviously and this will be the weakest number since november last year when we were at