Nickel fell to the limit down for the third consecutive session in London, as prices continue to fall after last week’s unprecedented short squeeze, when the price rally forced investors who had adopted falling positions to close these positions immediately, proceeding in hasty markets.
Nickel fell 12 percent to a daily high of $ 36,915 a tonne, although at least three orders traded lower than the stock market lower, according to Bloomberg.
This is the third consecutive session that electronic trading on the London Metal Exchange is experiencing problems, as the stock market continues to face difficulties with the new trading limits that were applied after the extreme fluctuations last week.
The LME announced on Thursday that it would extend the limit to 12%. On Wednesday, Nickel started trading at the 5% level, which rose to 8% a day later.