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Jeremy Weir says sector needs ‘contracts to reflect the underlying business’
Discovery of fake consignment comes weeks after Trafigura unearthed $500mn nickel fraud
Metal exchange faces legal claims totalling more than $500mn over its controversial cancellation of trades
Financial Conduct Authority launches enforcement action against metals exchange over decision to freeze trades
World’s largest miner joins criticism of contract at the centre of last year’s market chaos
A report attempts to explain what happened in a spectacular short squeeze last March
Independent report criticises exchange for lack of circuit breakers in March nickel crisis
Hedge fund AQR and other market participants were seeking more information on exchange’s decision to cancel trades
Metal pricing hit as thin volumes and higher financing costs force investors to sidelines
Fullest accounting to date of incident in March shows clearing house was under severe strain
Exchange’s defence against judicial review says level of margin calls would have bankrupted multiple clearing members
The LME had to suspend trading for a week, while inventory levels hit a 14-year low, adding to swings
Volumes have fallen sharply since a bout of severe market turbulence in March
Appeal by producers and traders concerned by distortion to market pricing fails to sway LME
Matthew Chamberlain defends exchange’s decision to cancel billions of dollars’ worth of trades in March
Users urge exchange to bar Russian commodities from warehouses
London exchange’s move comes a day after restrictions imposed on deliveries from Russia’s Ural Mining
Exchange looks at eliciting views on whether to add material to sanctioned oil and coal
Row marks latest controversy for the 145-year-old exchange
Hedge fund AQR and trading firm DRW Commodities among those seeking more information
By working through imperfect emissions and environmental information the industry is finding solutions
Industrial groups may have to consider imports despite moves to be more self-sufficient
Exchange stepped in to halt a squeeze on a short seller and protect other users from heavy losses
Chamberlain’s reputation rests on outcome of judicial review claims over momentous decision to cancel nickel trades
This episode threatens to undermine the Square Mile’s claim to ensure a level playing field
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