LME nickel trading halted in chaotic market resumption

LONDON- The London Metal Exchange (LME) halted nickel trading on its electronic system almost immediately on Wednesday in a chaotic resumption of business for a market that has been in limbo for over a week.

The price of nickel, which is used to make stainless steel and is a key material for electric vehicle batteries, had been rising steadily even before the conflict in Ukraine ramped prices up even further.

Russia accounts for about 10% of global nickel output and traders were concerned supplies could be constrained by Western sanctions on Moscow.

zawya LME nickel trading halted in chaotic market resumption