There have been calls from the industry for new pricing systems that could serve as an alternative to the LME ever since a massive short squeeze on the bourse in early 2022.
The nickel sulphate contracts “meet the growing demand for reliable price benchmarks in a rapidly transforming market,” Abaxx Technologies, which majority owns the exchange, said in a statement on Friday.
“Nickel sulphate markets are evolving rapidly, and market participants need tools that reflect the realities of physical trading,” Nancy Seah, CEO of Abaxx Exchange, said in the statement.
The contracts are US dollar-denominated and physically deliverable in Singapore.
