Trafigura secures $500 million in nickel fraud lawsuit against Prateek Gupta
Trafigura Secures Legal Win Against Prateek Gupta After a lengthy series of legal disputes, Trafigura has achieved a significant legal victory. A judge held businessman Prateek Gupta accountable for a fraudulent nickel cargo scheme, ordering the Swiss trading firm to receive $500 million in damages. The judgment from the London High Court stated, “Trafigura was […]
Nickel prices rise over 10% driven by increased buying from China.
Nickel prices surged over 10% in London, marking the largest increase in over three years. This spike was largely driven by increased investor interest in China, igniting a wider rally in the metals market. The price of nickel, essential for batteries and stainless steel, reached $18,785 per tonne on the London Metal Exchange. This surge […]
Trafigura’s leading trader devised a counterfeit nickel plan, Prateek Gupta informs the court.
Indian businessman Prateek Gupta appeared in court, alleging that a former top nickel trader at Trafigura was involved in a scheme to ship large quantities of fake nickel. During his testimony via video link from Dubai on Wednesday, Mr. Gupta stated that in 2019, Socrates Economou proposed a plan that included transporting what was purported […]
Businessman charged in Trafigura nickel case starts trial
Trafigura Group Faces Trial Over Alleged Nickel Fraud Two years after Trafigura Group lost over $500 million due to an alleged nickel fraud, the trial has commenced as the company seeks to recover its losses from those it claims orchestrated the scheme. The proceedings kicked off on Monday at London’s High Court, involving Trafigura, a […]
Nickel Surplus Affects Stainless Steel Even with U.S. Tariff Backup
Stainless Steel Market Update In the recent period from July to August, we saw a small rise of 0.32% in the Stainless Monthly Metal Index, indicating a somewhat stable trend. However, it’s notable that nickel prices have been on a general decline, despite being relatively flat this month. Weak Demand for Stainless Mills The landscape […]
Bernie Sanders says Israel shouldn’t receive ‘another nickel’ in US military aid after State Dept. report
Independent Sen. Bernie Sanders (Vermont) said that despite the findings of a recent State Department report, Israel should not receive “another nickel” in U.S. military aid. “Any objective observer knows that Israel violates international law and violates U.S. law,” Sanders said on NBC’s “Meet the Press.” In our view, Israel should receive no further U.S. […]
‘Israel Has Broken International Law’ and ‘American Law,’ Shouldn’t Get Another Nickel in U.S. Military Aid
Sen. Bernie Sanders (I-Vermont) said Sunday on NBC’s “Meet the Press” that Israel “should not receive another nickel in U.S. military aid” because it violates international law. said. “I think any objective observer knows that Israel is breaking international law by importing American law,” Sanders said. should not be accepted.” He went on to say: […]
Cheap coal, cheap workers, Chinese money: Indonesia’s nickel success comes at a price | Indonesia
SNestled chest-deep in the Moluccan Sea, just outside the rolling chimneys of the world’s largest nickel industry, Upin adjusted his mask and dove. Although his people, the Bajau, are known to remain underwater for more than 10 minutes, Upin quickly surfaces. He carries a sturdy metal disc over the side of the dugout canoe. “Since […]