#Nickel Market #Telenovela

Last week was a tumultuous market in the Nickel market, to say the least Some unprecedented moves were seen not only in terms of price- $100'000/Ton before trading was halted-,  but in terms of actions--  LME saving the banks and Brokers by canceling all trades.

Everyone wants to know what this week will bring.  Trading is set to resume tomorrow wednesday march 16:

-- Trading in LME Nickel Contracts will resume at 08:00 London time on Wednesday 16 March 2022 (“Resumption Date”) on all LME Execution Venues; 

-- 15% daily upper and lower price limits to all outright Contracts in all Base Metals on all Execution Venues;

-- deferral of delivery to Wednesday 23 March at level for all Nickel Contracts entered into prior to Wednesday 16 March and due for delivery between Wednesday 16 and Tuesday 22 March inclusive; 

 See the complete notice here: https://www.lme.com/api/sitecore/MemberNoticesSearchApi/Download?id=c71fdcfc-0340-4a05-9f9d-371361f1c9e9

Here is a recap of the week's events:

#LME Halts #Nickel Trading After Unprecedented 250% Spike

#Nickel Chaos Recalls #LME's Darkest Days

How Chinese #Nickel tycoon Xiang Guangda and his #Tsingshan Holding Group Co. got short squeezed

Chinese Nickel Giant Tsingshan Faces $8 Billion Trading Loss as Ukraine War Upends Market

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MasterMetals

@MasterMetals