New Analysis On June 1, U.S. hedge fund Elliot Management filed a suit against LME in the English High Court for $456 million over its controversial decision to suspend nickel futures contracts and cancel trades in early March. A few days later, on June 6, trading house Jane Street also filed its case against the exchange…
London Metal Exchange Faces Complaint from US Hedge Fund Group Over Cancelled Nickel Trades
June 15, 2022
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Business & MarketsChinacommoditiesCompaniesdemon nickelhedge fundHK BusinessHKEXHong KongInvestmentLMELondon Metal Exchange (LME)MarketsNickelTsingshan HoldingUKUSUS NewsWorld
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World’s Largest Nickel Producer Faces Billions in Losses; China Releases National Reserves to Rescue
March 16, 2022
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Business & EconomyChinaChina Business & Economycommoditiesfutures marketHK BusinessHong KongHong Kong Stock ExchangeLMELondon Metal ExchangeLondon Metal Exchange (LME)MarketsNickelnickel miningTsingshan HoldingUKWorld
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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…
LME Resumes Trading After a 3rd-Party Power Outage
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…
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