From Reuters via Nasdaq, March 5:
The London Metal Exchange (LME) does not plan to launch a "green" futures contract in nickel because the market for such a contract is not yet large enough, it said on Tuesday.
"Market participants have expressed concern that there remains significant market debate as to how to define 'green'," a statement said.
"Further, that an LME contract representing a narrower sub-segment of the market would not attract sufficient stocks and trading volumes to be viable."
There was also limited appetite for contracts for other segments of the nickel market such as nickel sulphate, matte and other so-called class 2 materials, it added.
The LME futures contract trades in class 1 refined nickel.
Last week, Australian iron ore magnate Andrew Forrest said the LME should classify its nickel contracts into "clean" and "dirty" to give customers more choice....
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It's not just Mr. Forrest who wants some sort of premium for the stuff he produces, BHP has also been quite vocal in calling for the new contract.
