From VW to JPMorgan, the Unlikely Cast Behind Nickel’s Big Squeeze - Bloomberg

2022-05-21 17:02:39 By : Mr. Raymond Zheng

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The nickel market remains paralyzed after this month’s crisis.

Traders at the open outcry pit at the London Metal Exchange 

Furious investors and traders. Evaporating liquidity. A market that many veterans simply describe as “broken.” It’s been three weeks since nickel was suspended on the London Metal Exchange after a 250% price spike and while trading has resumed, the market remains all but paralyzed.

As the crisis plays out, accusations are already beginning to fly. Investors are preparing lawsuits; the LME and its regulator, the Financial Conduct Authority, are likely to run investigations. It’s far from clear that any party broke any rules — it may be that the rules just weren’t fit for purpose.

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