Nickel prices appeared to hit a bottom in mid-May, but the trend remains down. Moreover, recent price action showed few signs of any bullish structures on a weekly scale. All in all, the Stainless Monthly Metals Index (MMI) dropped 9.4% from May to June. LME Faces Nearly $500 Million in Lawsuits The nickel crisis returned to the headlines earlier this week. Two financial groups sued the LME over its decision to cancel trades following the March 8 nickel squeeze. Trading firm Jane Street Group LLC and hedge-fund manager Elliot Management Corp. filed…
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