Cancelled Nickel Trades on the LME

Why would any one put another dollar in that exchange

Based on what the video is saying, the LME is nothing else than a communist institution. Aligning the trades as they please and choosing the winners and losers? Free market based on a Marksizam.

Am I the only one seeing crazy spread in nickel/usd currency pair?. my broker's spread is (90/300) pips and that's crazy considering that nickel has dropped to 21000$ in trade.

I would also like to ask if spread will tight in soon cause prior to the outrageous spike that happened some months back. The pip different b/w was"nickel/usd" 15-50 pip max.. the question is will it come back to normal

Does the concentration of wealth lead to more instability in markets?

Trading metals sounds absurd anyway. Is anyone buying metals on the open market to then use them? Seems like it is only for betting and gambling on metal prices, if you actually want to buy the metal you'd go directly to the supplier.

how to decredit your exchange in one day.

"Can't let the big guy lose" is the slogan of these exchanges and brokers

what nickel is doing is what all metals markets would be doing if they weren't manipulated.

You only have a shot at winning if and only if they win too. The LME is no longer an open market. It's nothing, like paper trading, it's pretend.

If anyone believes the LME has credibility after such blatant manipulation they are fools. Very much a Chinese move to eliminate an open market and dictate instead.

I think the biggest problem from this event is the disruption of international trade which conveniently coincided with the increasing costly failure of one regime's attempt to destroy another regime during the same time frame of the extension of the market positions. Given that the economic entities involved are state sponsored, the shorting is suspiciously like a strategic actions between opponents. The nickel market may be showing that minor conflicts may have a dependable impact on price and supply, but major conflicts do not (because antagonists in governments will work to destabilize neutrality in trade markets).

Most of the metals markets are too sketchy, too thinly traded, for most traders. The whole canceling, resetting the day, is simple corruption.

What the hell is going on here? Our magnificent documentarian excellently explains a situation that is entirely ludicrous and absurd. And with a straight face. Hurts my brain.

I work in an underground mine...guarantee Glencore didn't lose money haha

Here is a classic example of trading on fundamentals, it is a complete waste of time

This is the gamestop scenario when the group that control the game start to suffer, they stop the game...

This may go to the courts. It should not be legal to cancel trades already made. I think LME is in deep trouble.

crooks, crooks, crooks, I can't eat all these crooks! Come on down to the LME and help me with the bonanza of crookedness! Act now!

Hello Patrick love the channel. Where would I be able to find more information about the LME in general and about the lawsuits resulting from that Tuesday's trades being cancelled

Post-modernism in commodities markets is just not going to work.

As we approach the one year anniversary of this, maybe a update/follow up would be appropriate. Thanks.

There you have it. Big corps don't even have to ask, now. The exchanges protect their gambling habits so they have no bad consequences. Good luck getting the same treatment as a lone investor or even as a pension funds manager...

I wonder when the market will discover the most striking asset being skillfully entangled in this abundance of wry facts and logical conclusions: >>> Humor !
1st class infotainment, Sir !

Absolutely disgraceful. I had no interest in trading on LME anyway, but I will make a point now of ensuring that I never do. May they be sued into oblivion.

The BIDEN FAMILY ARE AGENTS THE CHINESE GOVERNMENT AND MILITARY, AND SELL AND STEAL US NUCLEAR SECRETS, TO CCP TO ENRICH THERE WHOLE FAMILY

I will upload the recordings and paperwork that THE ENTIRE BIDEN FAMILY ARE AGENTS FOR the CCP CHINESE GOVERNMENT AND MILITARY,

Joe ,hunter ,frank and Valerie BIDEN ARE AGENTS FIR THE CCP AND HAVE SOLD US NUCLEAR SECRETS TO THE CHINESE GOVERNMENT AND CHINESE MILITARY

State capitalism baby they pick the winners and losers not the markets

What kinda people does Boyle hang around that net 25 mil on one trade?

So the LME is now owned by China, SAY NO MORE !
The crooked system that runs in China is now dictating a western exchange.
You have been warned.

There were "Off the books" deals which because they were not being transparent about and most probably coming to light after the trade suspension the LME Brokers exposed by "Big Shot" failed all or nothing gamble were left exposed to a debt he was unlikely to pay, and recovery of money from China would prove near impossible, so they cancelled all the previous days trade to save themselves, going forward they eradicated "Off the Books" deals to take a full view of what the movers and shakers were up to, the LME has still not recovered it's trade, it has numerous law suits and regulatory attention, China has only had it for the last 11 years and knackered it, after being around for 147 years!?!

Chinese compare not to be trusted

The problem is shorting..
Gambling on credit never ends well.

When you're young and your grandfather lets you win in a card game, it's all fun and games. When LME lets China win by rigging their whole stock exchange, it's time to stop using them, unless you're Chinese and have the ear of the Chinese government.

"Gold, historys oldest meme investment." - Patrick Boyle
Very well put.

Basically if you're holding and you see a spike like that do not get greedy cash tf out right then and there

The excessive short positions held by Qingshan were admittedly foolish, but the entity that ultimately helped Qingdao pull through was China's national reserves. On March 9th, Qingshan Group announced they had secured enough nickel for delivery. Imagine the losses Glencore would incur if the delivery were completed. Then, who was really being protected when the exchange decided to cancel the transaction?

Not sure why we allow financial speculation on vital industrial commodities to begin with. Seems like orderly supply chains are more important than making money for hedge funds.

Absolutely disgusting.. the system is rigged.

UK , LME r in commis’ pocket now

I think its a scam for a company to be allowed to hedge on production, on a product that they produce. Yes should be able to hedge, but not on a product they produce because that way they can control the markets in their favour.

Patrick Boyle is hands down one of the most compelling, entertaining, and thorough teachers ive watched. He makes really conplex topic easy to understand. I feel like i learn a lot from him and often find myself laughing out loud at his jokes.

small correction: LME brand and location of delivery is at the option of the seller, of course, so the longs would have had no choice but to accept Russian Ni in settlement. It wouldn't just lie in warehouse unclaimed....

Did nickel bottom?

JESUS loves you so much and may you receive HIS Comfort and feel HIS love, and just know that the darker our situation the lighter HE shines, if you believe in HIM and turn from your sins, you will be saved, if you have not.

I also have made a few trades I wish I could cancel.

I'd be very interested in a video 2 years later to see how the LME is being treated and respected. Was this just a blip or is the LME in trouble for what they did?

Trusting Chinese companies 🤣🤣😂