Nickel Turmoil Saga Continues With Another 15% Limit-Up Spike On LME: Bloomberg

Nickel surges by the 15% exchange limit for a second day at The London Metal Exchange, putting fresh pressure on bearish position holders after an unprecedented short squeeze earlier this month, reported Bloomberg.
Nickel is up 53% during March in LME after wild swings.
The report added that Nickel prices surged to $37,235 a ton in early trading on LME, leaving the market locked up again after a 15% jump on Wednesday.
Related: Nickel Rises On LME As Buyers Return After Squeeze
"Ultimately, the short position is still out there, and they will have to close it out," the report quoted Michael Widmer, head of metals research at Bank of America Corp.
Nickel also surged to the maximum daily limit on the Shanghai Futures Exchange earlier, following the overnight gain in London.
Also Read: New Week New Limit Down On LME, Benchmark Nickel Price Down 15%: CNBC