The INTERNATIONAL Nickel Institute urges the LME, FCA and Bank of England to restore stability to the nickel market as soon as possible; Inni is concerned about the current and future impact of volatility, as many market participants have questioned pricing transparency, price stability and safeguards.
We welcome the recent resumption of deals, but the situation remains fluid and significant gaps need to be resolved in the short to medium term. In addition, the recent anomalies provide the LME with an opportunity to understand how this situation came to be, how to prevent a similar situation from happening again, and how to come up with a stronger, more transparent and reliable set of safeguards to protect markets and market participants.
