Nickel rose to an intraday record in Shanghai after another spike in London put imports out of reach for many Chinese buyers.
The metal jumped as much as 14.5% to a record of 281,250 yuan ($44,206) a ton, the maximum allowed, on the Shanghai Futures Exchange before easing to 265,230 yuan as of the midday break. Nickel climbed by its trading limit of 15% on Thursday to $37,325 on the London Metal Exchange after Chinese tycoon Xiang Guangda covered some of his short positions.
