(Bloomberg) — The world’s most important base metals exchange resumed trading after a more-than five hour halt.
A power outage at a third-party data center caused connectivity issues, according to the London Metal Exchange. That cut off at least some traders from a venue that sets global prices for bellwether commodities from copper to aluminum. About $64 billion of base metals futures contracts are traded on a daily basis, according to Bloomberg calculations.
Markets had been due to open at 9 a.m. Shanghai time Tuesday. Electronic trading on LMESelect resumed at 2:15 p.m., according to Hong Kong Exchanges and Clearing Ltd., which owns the bourse.
The over-a-century-old bourse had suffered unexpected shutdowns in the past due to issues including connectivity problem with an external network provider. Services typically resumed after delay of a few hours.
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