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JPMorgan Chase thought it had $1.3 million of nickel, but they were all bags of stones. It's happened before.

YAHOO!News on - 3/21/2023 9:50:20 AM
Swiss trader Mercuria Energy received spray-painted rocks instead of $36 million worth of copper it had ordered.

JPMorgan Reportedly Owned a Bunch of Rocks That Was Supposed to Be $1.3 Million of Nickel

Entrepreneur - 3/21/2023 8:03:00 PM
JPMorgan Chase owned nickel contracts worth about $1.3 million. It was announced recently that the nickel portions, reportedly belonging to the bank, were actually just a bag of regular rocks.

The world's top metals trader is stuck in another nickel-shipment snafu after getting bags of stones from a Dutch warehouse

YAHOO!News on - 3/21/2023 8:54:08 PM
The global metals trader Trafigura is among the companies that received bags of stone instead of nickel under London Metal Exchange contracts, Bloomberg reported. The bags came from a warehouse in Rotterdam run by Access World and were shipped to New Orleans,

LME warehouse delivers stones instead of nickel to Trafigura

Reuters on - 3/21/2023 6:04:00 PM
Nickel that failed to meet London Metal Exchange (LME) specifications was stored in a Rotterdam warehouse operated by Access World, the Swiss-based company said on Tuesday, adding it was inspecting bags of nickel briquettes in all locations.

JPMorgan Had Some Fake Nickel

Bloomberg L.P. - 3/21/2023 6:22:00 PM
Also the Credit Suisse rescue, AT1s, CCAs, First Boston, Signature Bank’s bad deposits Silicon Valley Bank’s disputed deposits.

Economic Worries Weigh On Nickel Prices

Crude Oil Prices - 3/20/2023 8:00:00 PM
The new nickel trading platform GCH offers an opportunity for stability to lessen the volatility of nickel prices. U.S. cold rolled stainless steel import licenses remain depressed. Indeed, many importers appear apprehensive,

JPMorgan is the unlucky owner of the fake nickel uncovered by the London Metal Exchange—really just bags of rocks

YAHOO!Finance - 3/21/2023 12:15:00 PM
The London Metal Exchange announced on Friday that it had discovered that several shipments of nickel in one of its warehouses didn’t contain nickel at all. The exchange said it was invalidating nine shipments due to the mishap,

Nickel Futures Prices Inched Lower in February

Metal - 3/21/2023 7:06:00 AM
Nickel prices inched lower in February. On the macro front, the US Department of Labour announced on February 14 that the annualised CPI in January was 6.4%, exceeding market expectations. On the evening of February 15,

A nickel-trading scam targeting JPMorgan is raising fresh questions about the London Metal Exchange

YAHOO!Finance - 3/21/2023 7:58:00 PM
The discovery that $1.3 million worth of nickel kept in a warehouse in the Netherlands was actually just bags of stones has renewed scrutiny of the London Metal Exchange (LME), one of the world’s oldest marketplaces for non-ferrous metals.

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