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The London Metal Exchange (LME) on Wednesday March 16 resumed trading in nickel, but was forced to stop them after a few minutes. Nickel futures fell by 5% after the market opened, which is a new limit for the price movement of contracts during one session. A total of 206 buy/sell transactions of 1,236 tonnes of nickel were completed before the LME stopped trading.
Most of the transactions were made at a price of $45,590 per ton. It was this price that eventually became the “official” price of the day. However, some transactions went through at a lower price and the exchange is considering canceling them.
At the same time, on the Shanghai Metal Exchange, nickel trading has been going on as usual for several days, the price of metal with delivery in April is about $34,500 per ton (including VAT), for deliveries in June, prices are about $33,500 per ton (including VAT).
