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London Metal Exchange to resume nickel trade

LONDON (AP) — The London Metal Exchange says it plans to resume trading in nickel, a week after it was suspended when the price of the metal surged to over $100,000 a ton. The LME said trading will resume at 8 a.m. London time on  Wednesday after a major market client confirmed it had gained support from banks that might forestall further “disorderly conditions.” That followed an announcement Monday by Tsingshan Holding Group, a Chinese metals trader, that it had struck a deal with a consortium of its creditors on a “standstill arrangement” such that the banks would not make margin calls or close out their positions against Tsingshan while the company is resolving its nickel margin and settlement requirements. 

Article Topic Follows: AP National Business

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The Associated Press


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