Nickel trade reopens on LME after a week; details here
The nickel trade will reopen today on London Metal Exchange (LME). Remember, it was suspended on March 7 and all trades that happened on March 8 were nullified.
Nickel trade will reopen today (March 16) on London Metal Exchange (LME) after it was suspended on March 7 and all trades that happened on March 8 were nullified.
Shanghai as well had cancelled all trades in the previous week and while Indian Multi Commodity Exchange of India (MCX) nickel prices have been trading but one needs to pay a hefty margin of more than 100 percent to even 120 percent on the higher side and the volumes have been on the weaker side.
Nickel prices gained 40 percent in two days and LME had to cancel trades because the markets were gaining higher, there were huge short squeezes coming in for the market then.
For more details, watch the accompanying video of CNBC-TV18’s Manisha Gupta.
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