London Metal Exchange suspends nickel trading until March 11

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Traders and clerks work at the London Metal Exchange

(Reuters) - The London Metal Exchange (LME) said on Tuesday it does not anticipate resuming nickel trading before March 11 after prices doubled to more than $100,000 per tonne forcing it to halt trading.

The exchange said nickel delivery positions will continue to roll forward at level until delivery recommences, on the first settlement business day following the resumption date.

On the resumption day, the LME expects to resume Nickel trading at or around 9 a.m. London time to meet maximum liquidity to support the contract.

"The LME currently anticipates that it will set a maximum limit-up and limit-down for all outright contracts in nickel on all Execution Venues of 10% in either direction."

(Reporting by Brijesh Patel in Bengaluru)

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