LME set a 15% limit on all varieties. Nickel trading resumed on the 16th, delayed delivery date.

Yesterday the London Metal Exchange (LME) issued a notice imposing a 15 per cent limit on daily price fluctuations for all metals and confirming that trading in LME nickel contracts will resume at all LME enforcement locations on March 16.

LME Nickel re-opening notice (* brief for personal understanding only)

1) Nickel will reopen at 08:00 London time on March 16, and pre-open will begin to accept pending orders half an hour before the opening of the market, that is, electronic disks will begin to accept pending orders from 07:30AM London time.

2) with effect from 17 March, trading hours will return to normal (01:00-19:00 Select London time)

Intra-day price setting

1) starting from March 15, all metals except nickel will set a rise and fall range, that is, the closing price of 3m on the previous trading day (+ / -) is about 15%.

2) the nickel price range will come into effect on March 16, and the specific increase or fall of% will be announced before 14: 00:00 p.m. London time on March 15, and will not be less than 5% (different from the previously recommended 10%)

3) the transaction price of other LME trading venues other than electronic disk is also restricted, which cannot exceed the maximum rise or fall of the day, otherwise the transaction will be deemed invalid.

4) if there is a bid work order on the electronic disk that exceeds the upper limit of the day's increase, or if the offer work order is lower than the lower limit of the day's decline, although the market will not stop trading, such work orders will be rejected by the system.

5) LME will still determine the closing price in the same way as the previous definition of closing price (MOC). Delayed delivery LME delays delivery of all nickel to 23max 3. If there is a nickel position that expires between 16max 3m 22max 3, unless delivery or pick-up is selected, the current method will be used. It will be postponed by one day according to the flat water (lvl) price every day until the maturity date is 23max 3. Report on the position of large investors

1) members are required to report all OTC positions with more than 100 hands by 20:00 every day.

2) the Accountabilitylevel (query limit) of large nickel holdings will be reduced from 6000 to 3000. If the position exceeds 3000, the exchange has the right to ask the reasons for its position. These rules apply to a) members' positions. 2) Exchange clearing and OTC positions.

3) if the LME clearinghouse perceives the delivery, delivery, concentration, market reversal, and increased credit risk of the member margin, it may require the member to provide additional pledge.

The method of calculating the average price of this month Although there is no CSP or Closingprice price, the number of days of interruption will still be counted as the total number of trading days this month, but the official price on the date of interruption will use the official price of the next trading day.