Nickel trading halted on LME as prices go up by almost 80% today
Nickel trading has been halted on London Metal Exchange (LME) on March 8, 2022, as the prices become double in the last two days.
Nickel trading has been halted on London Metal Exchange (LME) on March 8, 2022, as the prices become double in the last two days. Their prices have almost 80% increased today and about 150% increased in 2 days on LME.
Zee Business Managing Director Anil Singhvi and Zee Business Anchor and Research Head Deepanshu Bhandari discussed the reasons in a Tv show.
Talking about the Indian market, Deepanshu said that Nickel prices have jumped 70 percent and broken a 35-year record today because of the Russia-Ukraine conflict. It is 45% up in MCX. Yesterday about 75% move came in intraday and nickel closed at 67% above.
The Managing Director said the increase in prices is not because of high demand but the geopolitical effect. It is not that the demand has increased suddenly. He said demand-supply is low, fear grid factor is high.
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