“Nickel” bought by JPMorgan actually just bags of stones
JPMorgan Chase received a bag filled with stones instead of the nickel it ordered from the warehouse in Rotterdam. Last week, the London Metal Exchange (LME) announced the cancellation of nine nickel contracts – valued at approximately 1.3 million USD – after “irregularities” were discovered in a Rotterdam warehouse. The irregularity was that JPMorgan Chase…