Trading for nickel on the LME resumes today but it has already triggered the new limits set out by the exchange, that being price moves will be constrained to 5% above or below the last closing price.
The closing price prior i.e. last Monday was $48,078, so the limit down today hit is at $45,674.
The limit doesn't mean trading is suspended but it just means offers below that will be rejected. Talk about free markets, eh?
Update: Trading has been halted once again due to a "potential issue with the limit down band". Geez.
