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The Guardian - UK
The Guardian - UK
Business
Jasper Jolly

London Metal Exchange faces review over nickel trading chaos

Traders work on the floor of the London Metal Exchange
Traders work on the floor of the London Metal Exchange Photograph: Simon Dawson/Reuters

The UK’s financial regulators will investigate the London Metal Exchange’s handling of a week-long suspension of trading in nickel amid chaotic conditions at the start of Russia’s invasion of Ukraine.

The LME suspended trading in nickel, a crucial material for electric car batteries, on 8 March after prices doubled over the course of a day to a record $100,000 (£76,200) a tonne. Trading in the metal reopened after a week, on 16 March.

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