- Head of Trafigura warns that LME nickel benchmark is unfit for purpose.
- LME contract for high-purity nickel doesn't reflect the underlying structure of the battery market.
- Growing chorus from trading houses and miners calling for LME nickel benchmark overhaul.
- LME intends to publish an action plan to improve the nickel contract.
- Trafigura filed a lawsuit alleging it was the victim of a $577mn nickel fraud perpetrated by Indian businessman Prateek Gupta.
Trafigura chief says LME nickel contract is ‘not fit for purpose’
Jeremy Weir says sector needs ‘contracts to reflect the underlying business’
Leslie Hook
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