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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: bull_dozer who wrote (197447)	3/18/2023 3:35:05 PM
From: bull_dozer	Respond to of 217657

LME finds bags of stones instead of nickel in metal warehouse The London Metal Exchange has found bags full of stones at one of its warehouses instead of the nickel they were supposed to contain in the latest drama to hit the scandal-stricken metals market. The exchange said in a notice to the market on Friday that it had “received information that a number of physical nickel shipments, out of one specific facility of an LME-licensed warehouse operator, have been subject to such irregularities”. The supposed nickel consignments were actually filled with stone, said a person familiar with the matter. The LME added that the irregularities in the bagged nickel were “evident, from among other things, by the weight of the bags” and it “reminds licensed warehouse operators of the strict requirement to weigh all metal before it is placed” into the exchange’s approved warehouses. The discovery comes just weeks after Trafigura, one of the world’s largest metals traders, unearthed a $577mn nickel fraud that has rocked the commodities industry. The supposed nickel was stored in Rotterdam at a warehouse operated by Access World, which had been owned by Trafigura’s commodity trading rival Glencore until January, according to a person familiar with the matter. ft.com