Mar 16, 2022 04:39 AM

FINANCE

Nickel Trading to Resume in London After Historic Squeeze

By Luo Guoping, Lu Yutong and Han Wei

The resumption will end a week of turmoil in the nickel market after the metal spiked briefly above a record $100,000 a ton March 8

The resumption will end a week of turmoil in the nickel market after the metal spiked briefly above a record $100,000 a ton March 8

The London Metal Exchange (LME) will reopen nickel trading Wednesday after a week of suspension following an unprecedented surge in the metal’s price and a massive short squeeze involving a Chinese metals giant.

Trading will restart at 8 a.m. London time March 16, the LME said in a statement. The exchange decided to set daily price limits in either direction for all base metal outright contracts.

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