Nickel tumbles after LME changes rules
By Anna Stablum
LONDON, June 7 (Reuters) - Nickel fell almost six percent on Thursday after the London Metal Exchange changed lending rules to free up more metal, analysts said.
The nickel market, with prices hitting $51,800 a tonne in May and rising some 40 percent this year, has been characterised by extreme tightness with low stocks in LME warehouses and strong use in China.
The LME amended its lending rules, lowering the limit at which holders of dominant long positions are required to lend to the market, late on Wednesday.
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