The way in which the London Metal Exchange handled a dizzying spike in the price of nickel last year is at the centre of an investigation opened by regulators today.
Controversy surrounded the LME’s decision to cancel trades worth around $4 billion (£3.3 billion) in the industrial metal after the price surged 250% in just 24 hours in March last year. Commodities markets were in chaos as investors reacted to the implications of sanctions against Russia and rising demand after the end of Covid restrictions.
