New Abaxx exchange to launch nickel sulphate futures in Q1 2024
A new Singapore-based commodities exchange plans to launch trading in the next few months.
A new Singapore-based commodities exchange plans to launch trading in the next few months.
What the Court has just confirmed is that anyone trading on the exchange is no longer standing on solid ground.
The project in Tanzania is believed to be one of the world's largest and highest grade undeveloped nickel sulphide deposits.
The revelation is the latest twist in a case that has shocked the commodity trading world.
The automaker joins PT Vale Indonesia and Zhejiang Huayou Cobalt as investors in a project to make an annual 120,000 tons of nickel chemicals for EV batteries.
The Bucko Lake mine operated from 2009 to 2012.
The company expects a global nickel surplus of more than 250,000 metric tons this year, up from previous estimates of 200,000 tons.
Hedge fund Elliott Associates and market maker Jane Street Global Trading brought the case after LME cancelled $12 billion in trades in 2022.
The project was first explored by INCO, the world's largest nickel producer of the 20th century, acquired by Vale in the 1990s.
Nickel prices in London are heading for a 46% fall this year, the largest slump since the financial crisis in 2008.