50 min listen
The LME Nickel Crisis with Jack Farchy
FromThe HC Insider Podcast: Conversations in Energy & Commodities
The LME Nickel Crisis with Jack Farchy
FromThe HC Insider Podcast: Conversations in Energy & Commodities
ratings:
Length:
50 minutes
Released:
Mar 8, 2023
Format:
Podcast episode
Description
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.
Released:
Mar 8, 2023
Format:
Podcast episode
Titles in the series (100)
Commodity finance in challenging times with Christine McWilliams: In this episode Paul Chapman, Managing Partner of HC, discusses financing the commodity markets and the challenges and opportunities presented by current events with Christine McWilliams, Global Head Commodity & Energy Trade & Client Management at Citi. by The HC Insider Podcast: Conversations in Energy & Commodities