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London Metal Exchange (LME) – XtremeCuztoms

Tag: London Metal Exchange (LME)

London Metals Exchange Hit by Another Nickel Scam

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…


LME’s Plan to Restart Asian Trading Halted Amid Nickel Chaos

On Jan. 10, the London Metal Exchange (LME), owned by Hong Kong Exchanges and Clearing Ltd. and located in London, England, released the final report of an independent investigation into last year’s nickel meltdown. On Jan. 12, the media revealed that UK regulators had questioned the LME’s ability to halt its plans to restart Asian trading…


Why China Acquired the London Metal Exchange

In early March, nickel futures on the Chinese owned London Metal Exchange (LME) surged by nearly 250 percent. The LME then made the unusual decision to suspend nickel trading for over a week, which canceled thousands of trades worth billions of dollars. That debacle resulted in a probe and several lawsuits. Recently, a Chinese banker…


Why China Acquired the London Metal Exchange: Banker

In early March, nickel futures on the Chinese-owned London Metal Exchange (LME) surged by nearly 250 percent. The LME then made the unusual decision to suspend nickel trading for over a week, which canceled thousands of trades worth billions of dollars. That debacle resulted in a probe and several lawsuits. Recently, a Chinese banker explained…


London Metal Exchange Faces Complaint from US Hedge Fund Group Over Cancelled Nickel Trades

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 To Suspend Deliveries Of Some Russian Metals Stored In The UK

The London Metal Exchange announced the suspension of deliveries of certain Russian-produced metals to its warehouses in the UK on April 1st. 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 on March 8, after a run in commodity…


The LME ‘Demon Nickel’ Incident That Shocked the World Confirmed the Existence of ‘Hong Kong Backdoor’

The “demon nickel” incident of China Tsingshan Group has made the London Metal Exchange (LME) and Tsingshan Group the focus of the international financial market, and gradually exposed the inside story of how the Hong Kong Stock Exchange and the Chinese Communist Party (CCP) influence the global nickel price through the LME. Industry experts believe…


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

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…