Extraordinary volatility in London Metal Exchange trading, particularly in tin, may have been prevented, or at least significantly reduced, if the open-outcry trading floor had not been temporarily closed due to Covid-19, the global head of metals at ED&F Man Capital Markets has said.
Fred Demler, who is also executive vice president at the Category 1 member of the exchange, said that there had also been extreme moves in nickel, copper and zinc."We've recently experienced some unprecedented volatility in tin, nickel, copper and zinc, and there's an argument that these prices may have been less volatile if the floor were open and dealers were collectively taking the other side of the price moves," he told the...