Nickel Trading Halted After Historic 250% Price Spike
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Who would pay more than five cents for a nickel? Certainly not a nickel trader, because despite its name the Thomas Jefferson-fronted coin is made of 75% copper.
On Tuesday, those traders were left counting their pennies when the price of real nickel surged an unprecedented 250%, at one point topping $100,000 per ton. The resulting squeeze hit the world's largest nickel producer and a big Chinese bank, while the London Metal Exchange suspended trading.
Source Fool.com
