This from SS News 5th Oct:
"After nickel had peaked out in early May, on June 6, the London Metal Exchange issued a rule change that threw the market into turmoil, and sent prices diving. This rule took a giant step forward in halting major nickel traders from "manipulating" the market. According to Dow Jones "The lending guidance is a measure to prevent trading from becoming disorderly when one or a consortium of market participants has a dominant long position in the market." Today, this rule was undone. Cancelled! According to the LME, the "circumstances no longer require it." (i.e. there is enough inventory in LME warehouses to make it more difficult to manipulate the numbers)"
http://www.estainlesssteel.com/stainless-steel-news.shtml
Think we will see AGM up again on Monday?
Add to My Watchlist
What is My Watchlist?