The London Metal Exchange (LME) announced the suspension of nickel futures trading.
At 08:15 a.m. local time on Tuesday (March 8), the London Metal Exchange (LME) announced the suspension of nickel futures trading. Before closing, the three-month nickel futures rose 66.40% to US $80000 / ton, and closed at US $48078.00 / ton on the previous trading day. what is stainless steel seamless pipe?
we have 904L stainless steel seamless pipe , In the statement, LME said it had been monitoring the market trend and the impact of the changing situation in Russia and Ukraine. "It is clear that this (War) has the most significant impact on the nickel market. In view of the price trend in Asia this morning, LME made this decision based on maintaining market order."
Considering the geopolitical situation, LME may consider a multi-day suspension. At present, the margin of LME nickel contract will be calculated based on the closing price on March 7, 2022.
In the latest statement, LME decided to cancel all nickel transactions executed on the OTC and LME select screen trading system on and after 00:00 a.m. London time on March 8, 2022. In addition, LME decided to postpone the delivery of all spot nickel contracts originally scheduled to be delivered on March 9, 2022.
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