Why nickel futures are trading like meme stocks

Trading glitches plagued the nickel futures market in London Friday, with prices settling down at the exchange-imposed limit for a third straight day. As more details emerge from the disorderly market failure that shuttered trading in nickel for over a week — only to reopen in chaos — industry insiders are crying foul.

The current circus in nickel captured popular attention on March 7 when a giant bearish bet on nickel prices blew up in a spectacular short squeeze that would have rivaled…


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