London Metal Exchange to resume nickel trade

LONDON (AP) — The London Metal Exchange says it plans to resume trading in nickel, a week after it was suspended when the price of the metal surged to over $100,000 a ton. The LME said trading will resume at 8 a.m. London time on  Wednesday after a major market client confirmed it had gained support from banks that might forestall further “disorderly conditions.” That followed an announcement Monday by Tsingshan Holding Group, a Chinese metals trader, that it had struck a deal with a consortium of its creditors on a “standstill arrangement” such that the banks would not make margin calls or close out their positions against Tsingshan while the company is resolving its nickel margin and settlement requirements.