LME postpones resumption of nickel trading during Asian hours to Mar 27
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Update time : 2023-03-20 17:26:33
The London Metal Exchange (LME) announced last Friday (March 17) to postpone the resumption of nickel trading during Asian hours by a week to March 27 after it found the nickel its warehouse failed to meet contract specifications. The LME found bags of stones instead of nickel in a warehouse in Rotterdam.
The nine contracts in question involved a total of 54 tons of nickel, worth about US$1.3 million at current prices. The LME said the amount of nickel represented only 0.14% of live nickel inventories in its warehouses, which had a limited impact on the metals markets. However, the news was another blow to confidence in the struggling LME.
