The follow text is from the LME and concerns the publication of nickel officials and closing (evals) prices from 16 March onwards.
“LME Official Prices and Closing Prices may from time to time be affected by Disruption Events. Where a Disruption Event occurs, the LME will continue to publish the values that it determines between 12.30-13.25 London time (referred to as Official Prices) and from 17:50 London time (referred to as Closing Prices) and further, the LME and LME Clear will use these prices to (respectively) settle physically delivery LME Contracts and margin all LME Contracts, as applicable.
However, market data users are advised that prices affected by a Disruption Event do not constitute formal Official Prices and Closing Prices for the purposes of any OTC contracts.
Users should have regard to the fallback arrangements in their OTC contracts to determine the impact of this. Further information on Disruption Events is set out in paragraphs 23 to 30 of LME Notice 22/064 and paragraph 14 of LME Notice 22/067.”
For more information, please refer to https://www.lme.com/en/News
Please contact your account manager or our support team if you have any questions.
