Home / International / News / Markets / LME suspends nickel trade after prices soar past $100,000 a tonne

LME suspends nickel trade after prices soar past $100,000 a tonne

The trading shutdown after Western sanctions threatened supply from major producer Russia is the biggest crisis to hit the 145-year-old exchange in decades.

Premium

2 min read Last Updated : Jan 04 2023 | 4:06 PM IST

Listen to This Article

The London Metal Exchange (LME) was forced to halt trading in nickel and said it would cancel trades as prices doubled to more than $100,000 per tonne on Tuesday, a surge sources blamed on short covering by one of the world’s top producers.

Also, the price of gold in international market shot up more than 3 per cent and the bullion was trading at $2,062.71 an ounce at 8.40 pm IST.

The trading shutdown after Western sanctions threatened supply from major producer Russia is the biggest crisis to hit the 145-year-old exchange in decades.

In the 1990s a rogue Sumitomo

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in