The London Metal Exchange said it had introduced daily price limits for all its metals and would commission an independent review into the events that led to chaos in the nickel market last month.
The exchange suspended nickel trading on March 8 after prices spiked by more than 50 per cent to hit $100,000 a tonne. Activity resumed on March 16 when it launched daily price limits and the provision of OTC nickel trading data for the first time. The exchange also said it wanted to introduce OTC trade reporting across the board and that a first step was to extend provision of OTC daily position reporting, as is now implemented for nickel, to other metals.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: