LONDON – The London Steel Change (LME) mentioned on Tuesday it has suspended the buying and selling of nickel on all venues for no less than the remainder of the day after costs greater than doubled to cross a document $100,000 per tonne degree.
Following are reactions to the choice:
INGANALYSTWENYUYAO
“The trade tradeable underlying nickel is barely maybe 1 / 4 of worldwide saleable nickel, that makes the nickel trade buying and selling a troublesome and dangerous enterprise. Nevertheless, the business is shifting in the direction of producing extra non-deliverable nickel resembling NPI or matte. The would make trade nickel look more and more decoupled with the true market.”
SP ANGELANALYSTJOHNMEYER
“The LME are suspending the market to assist restore order and allow settlement due on transactions, e.g. margin calls.”
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