LME stops publishing official nickel prices after trading halt

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FILE PHOTO: A worker uses the tapping process to separate nickel ore from other elements at a nickel processing plant in Sorowako

LONDON – The London Metal Exchange (LME) will temporarily stop publishing official and closing nickel prices, it said following its suspension of trading in the metal on Tuesday after prices doubled in a matter of hours.

“It is appropriate to temporarily cease to publish official prices and closing prices for nickel contracts for the duration of the trading suspension,” the LME said in a statement.

The exchange, the world’s oldest and largest market for industrial metals, added that it would publish a notice later in the day about when it will reopen nickel trading.

(Reporting by Eric Onstad; Editing by David Goodman)