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The 19th China Ferro-alloys International Conference, co-hosted by China Chamber of Commerce of Metals Minerals & Chemicals Importers & Exporters (CCCMC) & Ferro-Alloys.com ，Supported by China Ferroalloys Industrial Association, will be held on 31 May to 2 June 2023 in Beijing, China.
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LME profits fall to 8-year low as nickel crisis hits exchange
Profits at the London Metal Exchange fell to the lowest in eight years in 2022, as the massive short squeeze that brought the nickel market to a juddering halt in March took its toll on the exchange.
The LME’s annual profit fell 27% to $56.1 million, the lowest since before a hike in trading fees in 2015, according to its annual report. The drop was primarily due to lower volumes, which fell 7.5% as traders stepped back from the exchange following the week-long suspension of the nickel market, as well as increased expenses for legal and other professional fees.
A separate annual report from LME Clear, the LME’s clearinghouse, showed that its profits fell 29% to $21.4 million, the lowest full year of earnings since it started operations in 2014. Its spending on legal and professional fees jumped 592% to $4.5 million.
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- [Editor:邢亚敏]
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