LONDON: A new Singapore-based commodities exchange aims to launch the world’s first futures contract for a type of nickel used in the booming electric...
The existing nickel futures contracts on the London Metal Exchange and the Shanghai Futures Exchange both trade in Class 1 refined nickel. – AFPpicA new Singapore-based commodities exchange aims to launch the world’s first futures contract for a type of nickel used in the booming electric vehicles sector by the end of this year, an executive said on Thursday .
“It’s unquestionable that this market needs more and better price discovery and the best way to do that is with a physically-settled futures contract,” he said. Abaxx said it had consulted with 21 firms before coming up with its nickel contract, including automakers, mining companies, brokers and trading firms. It declined to identify them due to confidentiality clauses.
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