https://newsletter.en.creamermedia.com
Copper|Fire|Risk Management|SECURITY
Copper|Fire|Risk Management|SECURITY
copper|fire|risk-management|security

Nickel crisis shows LME could learn from China, Minmetals says

16th November 2023

By: Bloomberg

  

Font size: - +

Last year’s nickel crisis shows that risk controls and management at the London Metal Exchange are worse than those of its main Chinese rival, the Shanghai Futures Exchange, an executive at a Chinese state-owned brokerage said.

The comments from Zhang Bizhen, managing director at Minmetals Futures Co., a unit of China Minmetals Corp., drew a spontaneous round of applause in Shanghai on Thursday, where he was speaking at the CRU World Copper Conference Asia.

The LME has drawn fire from all sides since a massive nickel short squeeze caused prices to quadruple in a few days in March 2022, prompting the world’s benchmark metals exchange to suspend trading and cancel billions of dollars of trades.

“After last year’s nickel incident, I feel, to some extent, SHFE’s risk control and management is ahead of European and US exchanges,” Zhang said. “I wish the LME could learn from SHFE in terms of risk management, so that will enhance both Chinese and foreign investors’ feeling of security.”

The LME’s head of market development, Robin Martin, said on the same panel that the roles of the LME and SHFE are complementary rather than competitive. He said the two exchanges are working on initiatives together including joint product development opportunities.

Edited by Bloomberg

Comments

Showroom

Tractor & Grader Supplies
Tractor & Grader Supplies

Tractor & Grader Supplies (TGS™): Your Trusted, Genuine Source for New Replacement Parts for Earthmoving, Construction and Mining Machinery

VISIT SHOWROOM 
Hanna Instruments (Pty) Ltd
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 14 March 2025
Magazine round up | 14 March 2025
14th March 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.124 0.216s - 168pq - 2rq
Subscribe Now