The LME Nickel Crisis with Jack Farchy

The LME Nickel Crisis with Jack Farchy

On March 8th 2022, Nickel prices spiked 100% to $100,000 a tonne in a matter of hours, triggering billions of dollars in margin calls and threatening the very existence of the exchange. The LME took the unprecedented, and controversial, step of cancelling all trades made that day. A decision which enraged some but saved the exchange and the shorts, creating a cascade of legal battles continuing to this day (we recorded this episode prior to the UK’s FCA announcing an official investigation into misconduct). What started the crisis? Who was Mr Big Shot? What were the events that surrounded the run up in prices and how did it unravel the structure of the LME? Did the LME pose a systemic risk? What has been the fall out? Our guest is Jack Farchy, Senior Correspondent for Commodities at Bloomberg, who takes us through the crisis.

Episoder(311)

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Argus Crude Summit: Shifting landscape of crude oil trading with Peter Keavey and Paul Chapman

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Today we return to the fuels industry. What is the latest in global fuel supply and demand? What is the impact of ongoing electrification on fuel demand? Have we seen peak gasoline demand even in the ...

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How did seed oils and biofuels fair in 2024? Wild price swings dominated as the markets reacted to changing yields and biofuel demand. At the same time, the markets braced for a change in the US admin...

29 Jan 202544min

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Another global commodity, present in our daily lives, without an established price index or futures contract, with a unique supply chain: Tea. How does Tea reach our tables? Where does tea come from? ...

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Building the now indispensable Trading Platform with Talis Bennett-Verschure

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For producers, refiners, processors & miners building a risk management and trading capability is moving from a value-add to a ‘must have’. However, building such a capability is a challenge, requirin...

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Ten percent of the global tanker fleet has gone dark and the number is growing. What is the Dark Fleet? Why does it exist and why is it growing? Who is using the fleet and who owns it? What are the ri...

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