LME defends nickel suspension after ‘disorderly’ trade
The London Metal Exchange (LME) defended its decision to suspend nickel trading and cancel deals earlier this week when prices doubled within hours, saying the market had become disorderly, with prices not reflecting the physical market.
“We recognise the frustration of some market participants regarding the decision to suspend nickel trading and to cancel Tuesday early-morning trades,” it said in a statement on Friday.
(By Eric Onstad; Editing by Louise Heavens)
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Comments
Donald
Massive shorting created the disorderly market.