LME gets first request to list nickel brand since launch of fast

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LONDON, June 9 (Reuters) - The London Metal Exchange (LME) said on Friday it had received an application to approve nickel produced by China's Quzhou Huayou Cobalt New Material Co. for delivery against its nickel contract. The exchange, the world's oldest and largest market for industrial metals, has been trying to restore liquidity in its nickel contract, which was hit by last year's trading

"Given the expected growth in Nickel Class 1 productionfrom new sources, the LME's fast-track approach and fee waiverfor new LME Nickel brands aims to encourage more stock andliquidity to the contract, without relaxing our metallurgical orresponsible sourcing requirements," the LME said.

(Reporting by Polina Devitt and Pratima Desai; Editing by Louise Heavens)