LME: Announcement On Nickel Position Shifting And Trading Costs

While trading in nickel remains suspended, the LME understands that some members want to move positions in nickel. Because these position shifts can provide a way to reduce risk in the system, the LME believes that they can be allowed under appropriate circumstances. However, the LME and LME Clear reserve their absolute discretion.

For proper management of transfers, members can only transfer nickel positions using LMEmercury.

Transaction costs

In view of the unprecedented situation in nickel, the LME and LME Clear are not allowed to charge fees for any nickel transactions during the suspension period, including those executed on or after 00:00 UK time on 8 March 2022. This includes all active trades, cancellations and position shifts.

The LME will issue a further notice in due course to address the next steps towards market reopening and the proposed voluntary settlement issues set out in notice 22/055.