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LME hopes to resume nickel contract trading during Asian hours within next 2 weeks

30 Nov 2022 16:14 reported by Joy Liu

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Robin Martin, Head of Market Development at the London Metal Exchange (LME), said that the LME hoped to resume its nickel contract trading during Asian hours as soon as within the next two weeks.

The LME was forced to suspend the nickel market and canceled all transactions on the nickel market on March 8 due to the incident in March. Trading in the LME nickel market resumed on March 16, when the LME introduced daily price limits, but trading during Asian hours wasn’t resumed.

In addition, the LME is studying the inclusion of class 2 nickel price as a reference pricing source, discussing with market participants regarding the potential demand for the addition of reference pricing sources of class 2 nickel, such as nickel pig iron, ferronickel, and nickel sulfate.

The current pricing source of the LME nickel contract is high-grade class 1 nickel, but lower-grade class 2 nickel occupied the majority of market trading volume these days.

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