Next month, the London Metal Exchange will end a year-long suspension of nickel trading during Asian trading hours, which was introduced after the Ukraine invasion.
The move is aimed at boosting the market that has been struggling to recover since the nickel crisis of last year. The suspension was put in place last March when the metal’s price surged by 250% in 24 hours due to concerns over supplies from major producer Russia.
#BreakingNews The London Metal Exchange has suspended trading in #nickel. It comes after prices more than doubled to an unprecedented $100,000 a tonne amid a short squeeze on the exchange.@LME_news
— ShareTalkNews™ (@ShareTalkNews) March 8, 2022
Trading has been suspended during Asian hours since then, which is when prices spiked during the crisis. Currently, the futures and forwards exchange opens at 8 am London time.
However, starting on March 20, nickel trading will resume when the Asian session begins, which is at 1 am London time. The exchange hopes that this move will further contribute to rebuilding liquidity in the LME Nickel market.
