The London Metal Exchange suspended trading for nearly three hours on Monday due to a technical outage, halting all electronic contracts including copper, aluminium, and nickel. The disruption occurred at 2:44pm local time and resumed at 5:30pm, affecting market participants' ability to hedge during a period of heightened volatility.

This marks the second significant outage for the exchange this year, following a one-hour delay on January 30. The London Metal Exchange, founded in 1877 and owned by Hong Kong Exchanges & Clearing, serves as the world's largest physical metals trading platform and sets benchmark prices for base metals.

The timing proved particularly sensitive as global metal markets grapple with Iran war-related disruptions. Aluminium prices have surged 13% this year, largely driven by Middle East smelter closures and Strait of Hormuz supply chain disruptions. The outage prevented traders from executing transactions during a critical period when hedging strategies are paramount.