On Jan. 10, the London Metal Exchange (LME), owned by Hong Kong Exchanges and Clearing Ltd. and located in London, England, released the final report of an independent investigation into last year’s nickel meltdown. On Jan. 12, the media revealed that UK regulators had questioned the LME’s ability to halt its plans to restart Asian trading hours.
On Jan. 10, the LME published on its website the final report of an independent review by Oliver Wyman into the March 8, 2022 nickel scandal, along with the LME’s response. The independent review concluded that two factors led to the suspension of nickel trading in March last year, namely, the lack of understanding by the LME of the large number of short positions that had already accumulated in the market prior to the event.
