The new monopoly could smooth out periodic air-pockets in the supply chain, but the temptation to use its market power to support prices during periods of low-growth demand may prove irresistible.
Copper rebounds, but two new reports warn that coronavirus impact could be much greater than SARS: For one, China did not consume 50% of the world's copper in 2003.
During a consultation period, some LME users said it was difficult to obtain guaranteed execution against closing nickel prices when the electronic system was used