The London Metal Exchange (LME) announced the daily price limit for nickel trading has been raised from 12% to 15% from Monday (March 21).

The LME resumed nickel trading on March 16 and imposed its first limit on nickel futures, which was suspended in a rare move last week due to extreme price volatility.

The LME also imposed a 15% limit on other basic metals, including aluminum, copper, lead, tin, and zinc, setting limits on outright contracts for the first time in the 145-year history of the exchange.

In terms of the stainless steel market, after a limit down for three consecutive days, the industry is paying close attention to the nickel price trend in the future.