Metals trader Kataman suing several firms for nickel fraud

In the Singapore court filings, Kataman said it paid US$3.3mil for 167 tonnes of London Metal Exchange-branded nickel from Singapore-based New Alloys, but the material never arrived at the agreed destination in Dubai. — Bloomberg

Singapore: US trading house Kataman Metals LLC is suing several companies for allegedly defrauding it out of more than US$3mil worth of nickel and for not paying US$1mil in interest on tin and nickel cargoes, filings in Singapore and British high courts show.

In the Singapore court filings, Kataman said it paid US$3.3mil for 167 tonnes of London Metal Exchange-branded nickel from Singapore-based New Alloys, but the material never arrived at the agreed destination in Dubai.