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LME |
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According to the New York Times, since the beginning of this year, nickel inventories reported by the LME have declined by 83 percent, while prices have increased more than 100 percent. Either the customer, or Alcan, can hedge off the LME price or on a formula with a pass-through of increases or decreases in the price, depending on the customer's needs. The LME seems to acknowledge it needs to restore public confidence in the market where Sumitomo's former star copper trader, Yasuo Hamanaka, racked up most of his losses. |
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LME