Steel News

We strive to let you one step ahead of the market.

JPMorgan buys nickel but receives stone

23 Mar 2023 16:42 reported by Ranny Fang

A A A
JPMorgan Chase & Co. holds nickel contracts on the London Metal Exchange (LME) in warehouses in the Netherlands that are supposed to be bags of nickel but are stones.

The LME indicated last week that it found that 54 tons of nickel in a warehouse in the Netherlands did not meet LME standards. The bags, which were supposed to hold nickel and were worth about US$1.3 million, were filled with rocks.

There is no indication that JPMorgan has committed any violations or wrongdoing. The LME said it has worked with storage companies to study what went wrong.

Back to Steel News

Related News

China reduces nickel pig iron production as global economic changes

  • Raw material
  • 24 Apr 2024 15:32

LME's nickel prices keep growing on Apr. 22

  • Raw material
  • 23 Apr 2024 17:48

India’s iron ore exports hike in FY23-24 y-o-y

  • Raw material
  • 23 Apr 2024 16:12

BHP Group to decide on future of Western Australian nickel operations by Aug

  • Raw material
  • 22 Apr 2024 16:16

Peru's copper production increases in Feb

  • Raw material
  • 19 Apr 2024 15:40

Metal Price Index

Learn more

LME Official Bid Price

  • Zinc
  • 2,795.00
  • 2,816.50
  • Aluminum
  • 2,585.00
  • 2,598.00
  • Copper
  • 9,670.00
  • 9,784.00
  • Nickel
  • 18,980.00
  • 19,150.00

Learn more

Coil Exchange Center

  • 2B Coil-May
  • 2,460
  • 2,320
  • NO1 Coil-May
  • 2,430
  • 2,290
  • 2B Coil-May
  • 2,460
  • 2,320
  • NO1 Coil-May
  • 2,430
  • 2,290

Learn more