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LONDON: The London Metal Exchange said Tuesday that it has suspended trade in nickel after the base metal rocketed to a record peak above $100,000 on Russian output concerns.

"Following further unprecedented overnight increases in the three-month nickel price, the LME has made the decision to suspend trading for, at minimum, the remainder of today," it said in a statement after nickel spiked to $101,365 per tonne.

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samir sardana Mar 08, 2022 11:56pm
Tangshan Iron & Steel Group Co Ltd was trapped by LME warrant traders and LME stocks at warehouses. The shock is that a Chinese company - which is an actual user of Ni for SS,and which should have known of the Russian action - was trapped ! Tangshan has no stock and no warrants. This is what happens when SS makers try to short Ni to navigate material costs. At this time,is some disaster strikes in Indonesian miners - then,we have a disaster. That Tangshan was unaware of the Nickel spot buying from LME warehouses by the Buyer of the Futures contracts - in light of the Russian action - is the DISASTER ! I trapped short seller has blown all short sellers and LME and the NICKEL buyers.At this time ,if Russian Ni stops flowing into LME warehouses ........ People say Y ? This is the tool for Russia to BLOW UP the E-VEHICLE SECTOR AND THE BATTERIES.dindooohindoo
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