-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
- Cosmetic Ingredient
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
The London Metal Exchange LME said it had imposed daily price limits on all its metals and would commission an independent review
of the events that caused turmoil in the nickel market last month.
The LME said on Monday that it had set a 15 percent daily price cap and floor for all of its physically delivered metals and cash-settled cobalt
.
The exchange suspended nickel trading
on March 8 after prices surged more than 50% to $100,000 a tonne.
Active trading resumed on March 16 with the introduction of daily price limits and the provision of OTC nickel trading data
for the first time.
The price spike was blamed on short cover
by China's Tsingshan Holding Group, one of the world's largest nickel producers.
The LME has said that large numbers of short positions come mainly from the over-the-counter (OTC) market
.
The exchange also said it wants to introduce over-the-counter reporting across the board, with the first step being to extend the over-the-counter daily position reporting rules to other metals, as is now being implemented for nickel
.
The LME welcomed the review by the UK's financial regulator of the way the exchange handled last month's suspension of
nickel trading.
It added that it would also commission an independent review of the events that led to the suspension of trading to prevent such a situation from happening
again.
The London Metal Exchange LME said it had imposed daily price limits on all its metals and would commission an independent review
of the events that caused turmoil in the nickel market last month.
The LME said on Monday that it had set a 15 percent daily price cap and floor for all of its physically delivered metals and cash-settled cobalt
.
The exchange suspended nickel trading
on March 8 after prices surged more than 50% to $100,000 a tonne.
Active trading resumed on March 16 with the introduction of daily price limits and the provision of OTC nickel trading data
for the first time.
The price spike was blamed on short cover
by China's Tsingshan Holding Group, one of the world's largest nickel producers.
The LME has said that large numbers of short positions come mainly from the over-the-counter (OTC) market
.
The exchange also said it wants to introduce over-the-counter reporting across the board, with the first step being to extend the over-the-counter daily position reporting rules to other metals, as is now being implemented for nickel
.
The LME welcomed the review by the UK's financial regulator of the way the exchange handled last month's suspension of
nickel trading.
It added that it would also commission an independent review of the events that led to the suspension of trading to prevent such a situation from happening
again.
