Nickel ETN tumbled 14% after London Metals Exchange cancels all nickel trades.
The London Metals Exchange said it cancelled all nickel trades, after the contract surged as much as 111% before a trading halt.
The cancellation applies to all trades made after midnight U.K. time on Tuesday.
The LME said the trading was due to the situation in Russia and Ukraine, as well as the low-stock environment and high pricing volatility, as it said "current events are unprecedented" and that it was working to ensure the orderly functioning of the market.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments