I en erklæring onsdag sagde London Metal Exchange (LME) at den ville hæve den øvre eller nedre grænse for nikkel til 8 procent og opretholde en daglig prisgrænse på 15 procent for andre basismetaller med virkning fra torsdag.
Lenni genoptog handelen efter en uges-lang suspension, men tingene gik ikke som planlagt. Onsdag lune nikkel åben grænse, og på grund af udvekslingstekniske årsager, ramte den nedre grænse førte til at stoppe igen. Elektronisk handel med nikkel, som var blevet suspenderet, genoptog kl. 14 London tid onsdag (22:00 pm Beijing tid onsdag), med gevinster og tab begrænset til 5 procent.
The LME will not release Wednesday's closing price, as nickel prices are down by the daily limit during the closing period. The 45,590 / tonne limit will continue to be used for margin calculations at the LME clearing house, as well as the basis for Thursday's gains and losses.
Den skarpe markedsuro tvang LME til at øge eller mindske nikkelhandelen til 8 procent om dagen, men den tilføjede, at den yderligere kunne justere de øvre eller nedre grænser for nikkel og andre metaller afhængigt af markedsforholdene.
In a sign that tensions may be easing, Aoyama announced on Tuesday that it had reached a silent agreement with a syndicate of futures bank creditors. According to the agreement, during the quiet period, Aoshan and its syndicate will actively negotiate the implementation of standby, secured liquidity facilities, mainly for Aoshan's nickel position margin and settlement needs. During the quiet period, the participating futures banks agree not to liquidate the positions held by Aoshan or require additional margin for existing positions.
"In a sense it was expected because we all expected nickel prices to fall, it was just a matter of how fast," said Colin Hamilton, managing director of commodity research at BMO Capital Markets.
The LME's SELECT electronic trading showed a huge volume of sell orders, equivalent to about 50,000 tonnes of nickel, at a limit of 45,590 a tonne, suggesting further falls once trading opens.
