Fund manager Luke Sadrian has been trading metals for thirty years, at hedge fund titans Brevan Howard and Moore Capital to now running his own shop. For the first time in his career, he says the London Metal Exchange is too risky to trade.
Sadrian, like many market veterans, was shocked by the LME’s decision to suspend nickel trading on Tuesday morning and cancel all the transactions from earlier in the day. Now, in the middle of a scorching bull market that’s lifted prices to record highs, some in the industry are simply deciding to walk away.
