LME Starts Inquiry Into Nickel Trading as Inventories Plunge
- LME sent email asking for details on client activity in nickel
- Nickel inventories have been cut in half since mid-September
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The London Metal Exchange is reviewing recent trading in the nickel market following the biggest-ever decline in inventories.
The exchange sent an email to members asking for more details of “significant client activity” in nickel warrants since Sept. 1. The LME also asked members to identify the client and business reason for the transactions, as well as steps taken to “ensure that the client’s activity is not conducive to an abusive squeeze or other pattern of market abuse/disorderly market conduct.”