After the start of the Russian war of aggression in Ukraine, market participants worried about supply bottlenecks for nickel. The prices then shot up.
(Photo: Bloomberg)
Dusseldorf The London Metal Exchange (LME) reopened for trading in nickel at 1am local time on Monday. It returns to its original opening hours.
For a good year, trading at the most important transaction center for the raw material nickel was only possible between 8 a.m. and 5 p.m. With the return to 1 a.m. to 5 p.m., the LME is again adjusting its trading hours so that nickel can also be traded during peak time in Asia.
The LME had reduced the trading period after severe turbulence at the beginning of March 2022. Three weeks after the Russian attack on Ukraine and shortly after the introduction of the first trade sanctions, the markets feared supply bottlenecks for the raw material nickel, which is used, among other things, to refine steel and to manufacture electric car batteries. Russia is one of the world’s largest exporters of the metal, which is already scarce around the world. Volkswagen is one of the largest buyers of nickel.
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