New Week New Limit Down On LME, Benchmark Nickel Price Down 15%: CNBC

Author: Akanksha Bakshi | March 21, 2022 07:36am

Nickel prices continued their decline on Monday, with the benchmark three-month contract falling 15% to hit another new trading limit, reported CNBC.
The price hit $31,380 a metric ton as it opened for trade on the London Metal Exchange, the report cited Refinitiv data. On Friday, the price had hit $36,915 a metric ton.
Related: Nickel Hits Limit Down Again On London Metal Exchange, Falls 12%: CNBC.
The London Metal Exchange's unusual couple of weeks of nickel trading continued with price surges, technical glitches, and trading suspensions with no relief in sight.
Reuters reported Friday that volumes were low and few buyers were willing to pay the LME price, above that on the Shanghai Futures Exchange.
Also Read: JPMorgan In Talks With Tsingshan To Contain Nickel Crisis: WSJ
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