LME was forced to suspend the nickel market and cancel all trades on 8 March, after prices spiked more than 50% to hit a record above USD 100,000 per tonne within a few hours. And although nickel trading resumed on 16 March after daily price limits were introduced, it wasn’t available during Asian hours. Now it’s set to resume. Who...
LME news
Nickel prices rise amid falling supplies and market volatility
Analytics recap. Nickel. Mid-November. Based on analysis by the Financial Times. Nickel prices have reached a six-month high, in a continuation of the market deterioration that has been observed since March. On Monday, the three-month nickel contract briefly hit a daily trading limit of 15%, reaching nearly USD 31,000 per tonne. This was followed by a 5% increase on Tuesday...
European market ban on Russian metal untenable, says London Metal Exchange
A major UK exchange has decided against banning Russian metal. Who The London Metal Exchange, after several weeks of deliberation, has published a paper outlining its reasoning for not banning Russian metal. The key points include the stipulation that the Exchange should refrain from making ethical judgements, the potential effects on participants in the market being too serious for the...