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JPMorgan leaves the LME nickel crisis behind

The bank was also among others including Standard Chartered and BNP Paribas who sought urgent resolution of the crisis mid March with Tsingshan Holding Group

By Penny Sukhraj
The crisis revealed JPMorgan as a central player since it was the largest counterparty to the large short position held by entrepreneur Xiang Guangda
The crisis revealed JPMorgan as a central player since it was the largest counterparty to the large short position held by entrepreneur Xiang Guangda Photo: Bloomberg via Getty Images

US investment bank JPMorgan no longer has exposure to nickel.

A drop in the price of the metal at the London Metal Exchange has paved the way for Xiang Guangda, the Chinese entrepreneur who held a large position, finally to exit his position within the bank, Bloomberg reported.

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