LME Nickel Finally Returns to Regular Trading Hours After Crisis
- Trading started at 1 a.m. London time along with other metals
- LME hopes expanded hours will boost nickel trading volumes
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Nickel on the London Metal Exchange resumed Asian-hours trading on Monday, marking a crucial step in efforts to repair the market after last year’s unprecedented turmoil.
The metal opened for business at 1 a.m. London time, more than a year after the LME suspended trading and canceled billions of dollars worth of deals in response to a runaway short squeeze centered around top producer Tsingshan Holding Group Co. Prices surged 250% in a little over 24 hours in early March 2022, with the sharpest spike taking place during the Asian day. The market reopened a week later, but only from 8 a.m. in London.