How a billionaire's short bet on nickel shut down the London Metal Exchange - ABC News

3/14/2022 12:00:00 AM3 years 1 month ago
by Rhiana Whitson

It was the stuff of a Hollywood film: A Chinese tycoon bet on a falling nickel price only to see it skyrocket 250 per cent.

The 145-year-old London Metal Exchange prides itself on being an orderly and reliable marketplace. But last week, a record spike in the price of nickel was anything but.