Beyond 2024, nickel prices to increase steadily to 2028: Fitch
Analyst expects upside risks – including but not limited to potential supply disruptions and a weakening of the US dollar to place a floor under prices throughout the year.
The man accused by Trafigura Group of being behind a $590 million nickel fraud finally responded to the allegations, claiming that Trafigura itself “devised and proposed” the scheme.
In a defence filed to the London court on Wednesday afternoon, lawyers for Prateek Gupta said that Trafigura employees had proposed an arrangement to agree contracts for the sale of nickel but in fact to trade other material.
Trafigura in February secured a freezing order against Gupta, alleging that his companies had sold it cargoes of nickel that turned out not to contain any of the metal.
(By Jack Farchy)
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