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Is the London Metal Exchange Done?
The biggest producer of nickel and also the biggest short seller for i don't know to what extent there was hedge versus speculation, basically got in a bind. Couldn't post enough margin, and the price went from 20 thousand dollars o metric ton up like, a hundred thousand dollars, almost. Nuts? I speakin of nuts. The london metal exchange. They cancelled five thousand nickel trades, estimating the exchange had wiped out one point three billion dollars of profit and loss on the deal. And they said it was in the interest of the market as a whole. Ofvisy the smell fish.