Wow. I didn't even hear about that, or if I did, I forgot about it. I was so outraged by all the Covid and military insanity, I didn't pay much attention to anything else.

The nickel market experienced significant turmoil in March 2022 due to supply concerns arising from the Russia-Ukraine war. Prices on the London Metal Exchange (LME) more than doubled, leading to the suspension of nickel trading for over a week.[1] The spike was exacerbated by a short squeeze involving Chinese producer Tsingshan Holding Group, which had a massive short position in nickel futures.[2]

The LME's decision to cancel trades executed on March 8, wiping out $3.9 billion in transactions, drew criticism from investors like hedge funds who had bet on rising nickel prices.[1][2] The exchange struggled to restore order, with prices hitting daily expanded limits for several days after reopening trading.[1]

The tumult highlighted issues with the LME's transparency and risk management, as well as the potential for market manipulation due to the concentration of positions held by a few large players.[2] It also raised concerns about the exchange's ability to function effectively during periods of extreme volatility.[1][2]

Sources [1] The nickel market tumult: What investors need to know https://www.marketwatch.com/story/nickel-market-tumult-continues-what-investors-need-to-know-11647620536 [2] Nickel market short squeeze: Day drinking, 'Big Shot' and billions of ... https://www.cnn.com/2022/04/02/investing/nickel-short-squeeze/index.html [3] LME Nickel - Wikipedia https://en.wikipedia.org/wiki/LME_Nickel [4] August 2019 Commodities Performance Highlights – Tweets, Trade ... https://www.indexologyblog.com/2019/09/03/august-2019-commodities-performance-highlights-tweets-trade-and-tumult/ [5] The Boom in Battery Metals for EVs Is Turning to Bust - WSJ https://www.wsj.com/finance/commodities-futures/the-boom-in-battery-metals-for-evs-is-turning-to-bust-5630493c