LME's Reputation On The Line After Nickel Fiascohttps://oilprice.com/Metals/Commodities/LMEs-Reputation-On-The-Line-After-Nickel-Fiasco.html
Some highlights from the article:
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The Stainless MMI continues its decline this month. Moreover, nickel prices continue to show weakness without any apparent bullish anticipation from market participants.
>... the man behind the historic March nickel squeeze walked away from the crisis with an estimated loss of $1 billion.
>Nickel Prices Could be Damaged for Months, if Not Years
>While Guangda appears “in the clear,” the damage of the squeeze extended far beyond the actual events. For one, the LME’s reputation seems severely, and perhaps permanently, harmed.
In short folks, the nickel market is down, going down, and staying down, and the once reliable mainstays that supported it are SOL.