Harry Dempsey reports
An independent review of nickel market turmoil last March concluded that the London Metal Exchange (LME) should strengthen its rules and oversight to guard against short-term market distortions. The review found the LME’s market did not have enough tools to stop prices from spiraling out of control.
The review was carried out by Oliver Wyman. In its report, the consultancy provided further details on how deep the crisis was ahead of the LME’s key decision. At that time, the world’s largest metals trading center decided to suspend nickel trading for a week and cancel billions of dollars worth of transactions…
