The Latest Breaking News from LME

The boss of the London Metal Exchange has reversed an earlier decision to leave, pledging to help fix the market instead following the controversial suspension of nickel trading last month.

Inventories of aluminum, copper, nickel, and zinc, four of the main contracts traded on the London Metal Exchange, have plunged by up to 70% over the past year, as record power prices in Europe hit production and the Ukraine war threatened output from Russia, the Financial Times reports. Traders and big…

The LME suspended nickel trading on the morning of March 8 after Russia’s invasion of Ukraine resulted in ‘disorderly’ price moves

Bank of England and FCA to examine suspension of market at start of Russia’s invasion of Ukraine

The exchange suspended nickel trades from Tuesday March 8 after Russia’s invasion of Ukraine resulted in significant volatility.

It’s been three weeks since nickel was suspended on the London Metal Exchange after a 250% price spike, and while trading has resumed, the market remains all but paralyzed, 

The nickel market has been in disarray in recent weeks as prices soared to unprecedented levels before going on a freefall amid supply concerns and an unexpected short-squeeze by one of the world’s largest steelmakers. Nickel is one of the most common metal elements in the world used to make…

CNBC

Nickel surges by the 15% exchange limit for a second day at The London Metal Exchange, putting fresh pressure on bearish position holders after an unprecedented short squeeze earlier this month, reported Bloomberg. Nickel is up 53% during March in LME after wild swings. The report added that Nickel prices surged to…

Nickel volumes surged as prices traded within the London Metal Exchange’s daily limits for the first time since reopening last week, Bloomberg reported. Prices climbed to a high of $29,700 a ton and remained within a 15% intraday limit set by the bourse. Nickel prices jumped 250% in early March touching a…

The London Metal Exchange is talking with governments about whether it should keep allowing Russian metal to be delivered into its warehouse network, said Chief Executive Officer Matthew Chamberlain.