Nickel Institute Urges LME to Restore Nickel Market Stability as Soon as Possible

SHANGHAI, Apr 1 (SMM) - Dr Hudson Bates, President of the Nickel Institute, said: "Well-functioning LME is critical to the efficient use of nickel on a global scale. Both producers and users rely on an efficient, transparent, fair and effective LME. Since the suspension of nickel trading, the Nickel Institute is highly concerned about the negative impact on the entire nickel value chain and downstream users. The outlook remains unclear as to when normal, sustained nickel trading will resume in full. The current situation has caused significant damage to the reputation of the nickel industry and the LME, and threatens to lead to a day-to-day loss of confidence in nickel and a gradual erosion of nickel demand. As trading continues to resume, we look forward to clarification and rectification from the LME. " "Given the importance of nickel to society, the Nickel Institute stands ready to support and assist the LME in rebuilding a credible path forward," he said.