London Metal Exchange Adds Members to Nickel Committee to Address Contract Issues
Nearly a year after nickel trading volumes on the London Metal Exchange crashed, the exchange has expanded its membership to come up with more ways to improve the nickel contract. The LME suspended its nickel contract for more than a week in early March 2022 shortly after a rush among investors to cover short positions caused nickel prices to surge by more than 50% in hours to trade at a record $100,000-plus per ton during Asian trading hours.
Nickel plays a crucial role in the development of stainless steel and EV batteries. The suspension of nickel trade had wide-reaching repercussions, and the…
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