The commodities trading hub suspended nickel trading in March after prices briefly topped $100,000 a ton. : Elliott Management is suing the London Metal Exchange for $456 million over the commodities hub's suspension of nickel trading in March. The activist hedge fund, which was founded by billionaire investor Paul Singer, has filed a lawsuit stating the LME unlawfully canceled nickel trades it had made on March 8, after the nickel price surged 250% to above $100,000 a ton. "When the LME canceled nickel trades on 8th March 2022 it acted unlawfully," an Elliott spokesperson said.