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Nickel Turmoil Is Back as Prices Spike 15% Again to Hit Limit

  • Nickel is up 53% this month in London after wild swings
  • Sharp gains put focus back on short position holders
Updated on

Nickel surged by the 15% exchange limit for a second day in London, putting the spotlight back on bearish position holders just two weeks since the market was roiled by an historic short squeeze.

Nickel futures remained locked at the price limit by Thursday afternoon on the London Metal Exchange, as the latest spike extends a period of unprecedented turmoil for the market. Prices soared over 250% over two trading sessions in early March during the short squeeze centered on China’s Tsingshan Holding Group Co., before the market was suspended.