Jack Farchy

1 day ago | news.bloombergtax.com | Jack Farchy |Jeremy Hodges

A group of hedge funds that sued the London Metal Exchange over the 2022 nickel crisis have dropped their legal action after similar arguments made in separate proceedings were rejected by UK courts. The move means the exchange, which sparked fury by canceling $12 billion in trades after nickel prices surged due to a short squeeze, has faced down some $600 million in legal claims from some of the world’s highest profile investors.

1 day ago | bloomberg.com | Jack Farchy |Jeremy Hodges

Traders on the trading floor of the open outcry pit at the London Metal Exchange Ltd. (LME) in London, U.K., on Monday, Sept. 6, 2021. After 18 months away, brokers returned Monday to the red leather couches of the London Metal Exchange’s floor, where they set benchmark prices of metals such as copper and aluminum by screaming orders at one another.

1 week ago | bloomberg.com | Jack Farchy |Alfred Cang

Copper cathode sheets at the KGHM Polska Miedz SA copper smelter in Glogow, Poland, on Thursday, April 24, 2025. Poland’s government reduced its economic growth target for this year, citing external risks such as US trade policies and the war in Ukraine. Photographer: Damian Lemanski/Bloomberg(Bloomberg) -- Traders including Trafigura Group and Mercuria Energy Group Ltd.

4 weeks ago | news.bloombergtax.com | Jack Farchy |Julian Luk |Yvonne Yue Li

Major players in the US copper industry have called on President Donald Trump to restrict exports of ore and scrap metal rather than imposing tariffs on imports, in his efforts to boost domestic production. Trump’s executive order in February ordering a probe into possible copper tariffs upended the global market, driving US prices to a huge premium over international benchmarks and spurring a global race to get copper into the country before any potential tariffs are imposed.

4 weeks ago | ca.finance.yahoo.com | Jack Farchy |Julian Luk |Yvonne Li

If the US goes down the export curb route, that’ll lead to a tighter scrap market, and in turn more pressure on Chinese smelters, said Ryan McKay, senior commodity strategist at TD Securities. “Generally it would lead to tighter refined supply and drawing inventory.”While several responses called for the US to impose restrictions on exports of copper scrap, and in some cases copper concentrates, many urged the administration not to place import tariffs on copper metal.