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LME declares some nickel trades ‘null and void’ as chaos plagues market for third week

Nickel has had a wild ride after the metals exchange cancelled some $4bn in transactions on 8 March

By

Jeremy Chan

Matthew Chamberlain, chief executive of the London Metal Exchange. The LME announced trades conducted on 21 March would be cancelled due to a ‘disruption event’
Matthew Chamberlain, chief executive of the London Metal Exchange. The LME announced trades conducted on 21 March would be cancelled due to a ‘disruption event’ Photo: Anthony Kwan/Getty Images

A new trading week spelled new trouble for the London Metal Exchange as it struggles to get nickel trading back on track.

The LME announced due to a “disruption event” that some trades posted on 21 March during this session would be cancelled. In a notice, the exchange said: “Nickel will be deemed a disrupted session and all agreed trades during this session will be null and void.”

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