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Green shoots of recovery for LME nickel after restart of Asian hours trading

  • 2023年06月05日 15:25
  • 來源:中國鐵合金網

  • 0
  • 關鍵字:nickel, ore, steel
[導讀]Trading volumes for the London Metal Exchange's (LME) benchmark nickel contract in electronic trading, boosted by the restart of Asian hours trading, climbed in May to their highest since the crisis in March last year.

[Ferro-Alloys.com] 

Green shoots of recovery for LME nickel after restart of Asian hours trading

Trading volumes for the London Metal Exchange's (LME) benchmark nickel contract in electronic trading, boosted by the restart of Asian hours trading, climbed in May to their highest since the crisis in March last year.
LME data shows average daily nickel volumes in May for the three-month benchmark contract at 18,190 tonnes compared with more than 28,000 tonnes in March 2022 when prices hit a record above $100,000 a tonne in disorderly trade and the LME suspended the nickel market for more than a week.
To control volatility when the market reopened, the LME introduced a package of measures including daily price limits and cancelled early morning trading during Asian hours when volumes are thin, which exacerbates volatility.
Nickel trading on Select restarted on March 27.
Rising average daily nickel volumes -- up 7% since the start of 2023 -- and liquidity have helped the LME to cut requirements for margins -- cash that has to be deposited with the LME's clearing house against outstanding trades.
  • [責任編輯:邢亞敏]

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