EUROFER Calls for Urgent Action to Prevent Artificial Surges in Nickel Prices
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Update time : 2022-03-10 21:56:34
The European Steel Association (EUROFER) has urged the London Metal
Exchange (ME) and the Financial Conduct Authority (FCA) to take urgent action to prevent any further
occurrence of massive, artificial surges in nickel prices. It also requested transparency on trading
moves by single or group of market participants.
In a press statement, Axel Eggert, Director General, EUROFER noted that in the last few days and
especially since the market opening on March 7th, there has been an unprecedented surge in nickel
prices, which cannot be explained either by supply and demand or by the recent sanctions imposed on
Russia. Furthermore, he said that no other commodity has witnessed such high fluctuation in prices as
nickel.
