Trading was halted for nearly three hours on the London Metal Exchange on Monday afternoon due to a technical outage, during a period when the Iran war has triggered unusually high volatility for commodity prices.
All electronic contracts on the exchange — which include copper, aluminium, nickel and other metals — stopped trading at about 2.44pm local time, according to data from LSEG. Dealing resumed at 5.30pm.
“The LME’s primary electronic matching engine encountered an issue at 14.43, which caused electronic trading to enter a technical halt,” the exchange said in a statement, adding that the issue “affected the ability of market participants to hedge at the relevant prices”.
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