Tag: London Metal Exchange

London Metals Exchange Hit by Another Nickel Scam

March 27, 2023
Business & MarketsChinaChina Business & Economydemon nickelEuropeLondon Metal ExchangeLondon Metal Exchange (LME)MarketsWorld
0 Comment

News Analysis The London Metal Exchange (LME) on March 17 revealed that the bags of nickel stored in its licensed warehouse contained stones. The LME is supposedly the most trusted and secure minerals trading platform; however, it has had its share of trouble with nickel. The LME announced that nine nickel shipments found in one…

Read More

UK’s Financial Regulation Authorities Conducting Review Into London Metal Exchange

April 5, 2022
Business & Economyeconomic policiesLondon Metal ExchangeMarketsWorld
0 Comment

City regulators have launched an investigation into the London Metal Exchange after it suspended nickel trading last month. On March 8, the exchange, which is owned by Hong Kong Exchanges and Clearing, suspended its operations for more than a week and canceled billions of dollars of trades after experiencing significant volatility, prompted by supply fears amid Moscow’s invasion of…

Read More

Nickel Market in Disarray After Chaotic London Return

March 17, 2022
EuropeLondon Metal ExchangeNickeltradingUKWorld
0 Comment

LONDON—The London Metal Exchange had hoped to get the global market for nickel motoring again on Wednesday after a week in limbo. It didn’t work out as planned. The world’s oldest metals exchange was forced to halt trading on its electronic system within a minute of opening due to a technical glitch and when it…

Read More

World’s Largest Nickel Producer Faces Billions in Losses; China Releases National Reserves to Rescue

March 16, 2022
Business & EconomyChinaChina Business & Economycommoditiesfutures marketHK BusinessHong KongHong Kong Stock ExchangeLMELondon Metal ExchangeLondon Metal Exchange (LME)MarketsNickelnickel miningTsingshan HoldingUKWorld
0 Comment

The world’s biggest nickel and stainless steel producer, Tsingshan Holding Group, suffered a fiasco in a global capital sniping on the London Metal Exchange (LME) on March 7, with its 200,000-ton nickel forward contracts caught in a delivery default and facing potential losses of billions on its short positions. However, a dramatic reversal occurred, attributed…

Read More

LME Halts Trading After Nickel Prices See Record Run

March 9, 2022
Business & EconomyChinaChina Business & EconomycommoditieseconomyEnvironmentEuropeInvestmentLondon Metal ExchangeMarketsNickelRussia ukraine conflictRussia-Ukraine WarScienceWorld
0 Comment

The London Metals Exchange (LME) said it was forced to cancel all nickel trades on March 8, after the contract spiked as much as 111 percent to more than $100,000 per tonne, before trading was halted. The LME said the halt was due to the conflict Ukraine as well as the low-stock environment and high…

Read More

LME Resumes Trading After a 3rd-Party Power Outage

January 12, 2022
Business & EconomyCompanieseconomyInternationalLMELondon Metal ExchangeMarketsresumetradingUKWorld
0 Comment

LONDON/BENGALURU—Trading on the London Metal Exchange (LME) resumed on Tuesday morning after a power outage as the world’s top marketplace for industrial metals struggles with declining volumes. Activity resumed at 0615 GMT following the outage at a third-party data centre on Monday evening, the LME said. The exchange, owned by Hong Kong Exchanges and Clearing…

Read More