Nickel Drops 12% in Another Glitchy Start to London Trading

bloomberg2022-03-18

(Bloomberg) -- Nickel dropped by the maximum allowed for a third day in another glitchy opening for trading in London, as the price continues its retreat from an unprecedented short squeeze last week....

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AliPharma
2022-03-18
AliPharma
ok
onglaihuat
2022-03-18
onglaihuat
G
KLS
2022-03-18
KLS
Buy
ZEROHERO
2022-03-18
ZEROHERO
What goes up must come back down
DarkFate
2022-03-18
DarkFate
Like
Ly99
2022-03-18
Ly99
Like pls

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The trades outside of the limit will be canceled, a spokesperson for the LME said.While the continued snafus will be frustrating for traders, Friday’s drop is the latest sign that the massive short squeeze in nickel that roiled the metals industry last week is easing following a controversial series of interventions by the exchange.Prices had spiraled up 250% in a little more than 24 hours early last week as top producer Tsingshan Group Holding Co. struggled to pay margin calls on its large nickel short position. The Chinese company announced a deal with its banks on Monday to avoid margin calls, which gave the LME confidence to reopen the market, and most traders and analysts had predicted prices would fall when trading resumed.Still, while the nickel price has plunged since reopening on Wednesday after a week-long suspension, there has hardly been any trading. 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