#Nickel Market #Telenovela

Last week was a tumultuous market in the Nickel market, to say the least Some unprecedented moves were seen not only in terms of price- $100'000/Ton before trading was halted-,  but in terms of actions--  LME saving the banks and Brokers by canceling all trades.

Everyone wants to know what this week will bring.  Trading is set to resume tomorrow wednesday march 16:

-- Trading in LME Nickel Contracts will resume at 08:00 London time on Wednesday 16 March 2022 (“Resumption Date”) on all LME Execution Venues; 

-- 15% daily upper and lower price limits to all outright Contracts in all Base Metals on all Execution Venues;

-- deferral of delivery to Wednesday 23 March at level for all Nickel Contracts entered into prior to Wednesday 16 March and due for delivery between Wednesday 16 and Tuesday 22 March inclusive; 

 See the complete notice here: https://www.lme.com/api/sitecore/MemberNoticesSearchApi/Download?id=c71fdcfc-0340-4a05-9f9d-371361f1c9e9

Here is a recap of the week's events:

#LME Halts #Nickel Trading After Unprecedented 250% Spike

#Nickel Chaos Recalls #LME's Darkest Days

How Chinese #Nickel tycoon Xiang Guangda and his #Tsingshan Holding Group Co. got short squeezed

Chinese Nickel Giant Tsingshan Faces $8 Billion Trading Loss as Ukraine War Upends Market

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MasterMetals

@MasterMetals

Chinese Nickel Giant Tsingshan Faces $8 Billion Trading Loss as Ukraine War Upends Market

Tsingsham paper loss stood at $8 billion on Monday before the LME suspended trading in Nickel.

Tsingshan's founder, Xiang Guangda, told Chinese media outlet that "relevant government departments and leaders are all very supportive of Tsingshan. Tsingshan is a solid Chinese enterprise and our positions and operations do not have problems."

#LatinAmerica Wastes Billions of Dollars of #Metals

E-Waste in 13 LatAm countries rose by 49% between 2010 and 2019, roughly the world average. The issue is that just 3% was collected and safely managed, a fraction of the 17.4% global average. 

According to a new report produced by the Sustainable Cycles Programme, co-hosted by the UN University and the UN Institute for Training and Research, Latin America has a big opportunity to recover valuable materials from e-waste that it has been throwing it into the garbage.

Data compiled for the report show that the e-waste generated regionally in 2019 contained 7000 kilos of gold, 310 kilos of rare-earth metals, 591 million kilos of iron, 54 million kilos of copper, and 91 million kilos of aluminum, representing a total value of roughly $1.7 billion of secondary raw materials.