It's because of the start of the Russian- Ukraine war and fear of supply that caused (eventually) a massive (Nickel went over $100k/tonne!) short squeeze that led to the LME shutting down trading, even reversing trades, to save some big banks and a 'big shot' Chinese company (lol). After that, the fun was over and Nickel has slid down to 'reasonable' levels since. It's not usually volatile, it was just this one time. It won't happen again, because the LME has all kinds of limits on trading it now and traders have lost a great deal of trust in the LME. Talk about manipulation!
Trading day running commentary, page-4483
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Last
41.5¢ |
Change
-0.040(8.79%) |
Mkt cap ! $205.9M | |||
| Open | High | Low | Value | Volume |
| 46.0¢ | 46.0¢ | 41.5¢ | $228.1K | 516.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4999 | 41.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 43.0¢ | 8000 | 1 |
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| Last trade - 16.10pm 03/07/2024 (20 minute delay) ? |
| CTM (ASX) Chart |