London Metal Exchange To Suspend Deliveries Of Some Russian Metals Stored In The UK

The London Metal Exchange suspended nickel trading because of the Tsingshan (THG) nickel incident, the first time since 1985 that the LME has suspended trading in a metal, in London, on March 8, 2022. The graph shows the one-day rise and fall of nickel prices on the London Stock Exchange. Ben Stansall/AFP

The London Metal Exchange announced the suspension of deliveries of certain Russian-produced metals to its warehouses in the UK on April 1st.

The exchange, which is owned by Hong Kong Exchanges and Clearing, suspended its operations for more than a week and canceled billions of dollars of trades on March 8, after a run in commodity prices that day that saw nickel rise to $100,000 a tonne.