LME to conduct independent review on nickel price unusuality
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Update time : 2022-03-31 19:05:14
Adrian Farnham, London Metal Exchange (LME) Clear CEO, said that the LME will undertake an independent review on the unprecedented spike in nickel prices, which forced to suspend nickel trading in early March.
The nickel trading was suspended on March 8 after prices surged to the US$100,000/ton level, and the trading is resumed on March 16.
The price spike that triggered the shutdown was blamed on short-covering by China’s Tsingshan Holding Group. The LME has said that the large short positions in nickel were mainly from the over-the-counter (OTC) market.
