LME nickel trading will resume on 16, and LME announced that the nickel contract will resume at 8:00 on March 16, London time (March 16, Beijing time). In addition, the price limit applicable to all base metals has been set, and LME nickel trading will resume on 16.

LME Nickel will resume trading on 16. The London Metal Exchange 14 announced that the nickel contract will resume trading at 8: 00 am London time, and the price limit applicable to all base metals will be set from March 15.

The London Metal Exchange said that in the context of widely reporting a large number of short positions (mainly from the OTC market), superimposed geopolitical news and depressed metal stocks, the metal exchange concluded that "the nickel market was out of order on the 8 th".

In particular, the London Metal Exchange pointed out that a big customer of the market has now published details related to the support of a banking consortium, which may indicate that the possibility of further confusion may be alleviated.

The exchange said that although the price trend in the nickel market has always been a key issue, the broader base metal market has fluctuated greatly. Market participants expressed concern about the risk of sudden and violent fluctuations in the prices of other metals, especially considering the geopolitical background. In view of these concerns and LME's own assessment of market conditions, the exchange decided to set daily price limits for all basic metal contracts at all execution sites.

According to the announcement, the daily maximum fluctuation range of other basic metal contracts will be 15% of the closing price of the previous trading day, while nickel will be at least 5%, and will continue to be reviewed and adjusted according to market conditions. From 15, the price limit will be implemented, and the price limit of nickel will be implemented from the resumption of trading.

LME Nickel will resume trading on 16. After being forced to short and suspend trading for more than a week in the history of LME nickel, Qingshan, at the center of the storm, reached an agreement with the bank that nickel trading on the London Metal Exchange (LME) will resume on Wednesday.

In the early morning of Tuesday, Beijing time, Qingshan issued a statement saying that Qingshan Group had reached a silence agreement with a syndicate of creditors of futures banks. During the silent period, Qingshan and the syndicate will actively negotiate to implement standby and guaranteed liquidity credit, which is mainly used for the nickel position margin and settlement requirements of Qingshan.

During the silent period, the participating futures banks agreed not to open positions in Qingshan, or requested additional margin for existing positions. As an important part of the agreement, Qingshan Group should reduce its existing positions in a reasonable and orderly manner with the elimination of abnormal market conditions.

This statement means that Qingshan can temporarily avoid the pressure of further increasing the margin, thus reducing the risk of being forced to empty again when the market reopens.

Subsequently, the London Metal Exchange also announced that a big customer of the market has now announced the details related to the support of a banking consortium, which may indicate that the possibility of further confusion may be alleviated.

The LME announcement also announced the following points:

1, LME nickel contract will be resumed at 8:00 London time on March 16 (March 16, Beijing time).

2.LME has set the price limit applicable to all base metals: the daily maximum price of other base metal contracts will be 15% of the closing price of the previous trading day, while nickel will be at least 5%, and will continue to be reviewed and adjusted according to market conditions. From 15, the price limit board system will be implemented, and the price limit board will be implemented for nickel from the resumption of trading.

3. postpone the delivery time of all nickel contracts signed before March 16 (Wednesday) to March 23rd (that is, the delivery time should be between March 16 and March 22nd).

4. During the period when LME fails to officially announce the official price and closing price of nickel due to transaction interruption, additional guidance will be provided for determining and announcing the official price and closing price.

However, despite the support of banks, Qingshan Holdings has not got rid of the short position of 654.38+0.5 million tons of nickel. It remains to be seen whether Qingshan can "reasonably and orderly lighten its position" as it said.

After the unprecedented dramatic market in the previous two weeks, we still need to wait and see how LME nickel market will be after the resumption of trading on Wednesday.

LME Nickel will resume trading on 16. 3 After one week of suspension, Lun Ni will resume trading soon.

On March 14, local time, London Metal Exchange (LME) announced that it would resume trading at 8: 00 am on Wednesday, March 16, London time, and asked traders to report their nickel positions, and set the closing price on March 7, 2022 as the closing price of the previous trading day.

LME said that under the background of widely reporting a large number of short positions (mainly from the OTC market), overlapping geopolitical news and low metal inventory, "the nickel market appeared disorderly market situation on the 8th". LME pointed out that a big customer in this market has now released details related to the support of a banking consortium, which may indicate that the possibility of further confusion may be alleviated.

Earlier, LME said that it would set a price ceiling of about 10% for all direct nickel contracts in all execution places. LME said in this announcement that the specific price limit will be announced before the afternoon of March 5, London time 14; Since March 15, the daily price fluctuation range of metals except nickel has been limited to 15%.

LME stipulates that the delivery of all nickel contracts signed before Wednesday, March 16 will be postponed to Wednesday, March 23rd, and should be delivered between Wednesday, March 16 and Tuesday, March 22nd.

In addition, LME said that LMEselect will still be open in the original way, that is, in the pre-opening state, but the pre-opening will start at 7: 30 London time on 16. Before the resumption of trading, nickel contract trading shall not be conducted in any trading place except LMEselect.