Nickel’s biggest supply squeeze in more than a decade is drawing attention from the London Metal Exchange, as plunging inventories mean buyers are forced to pay massive premiums for immediately available metal.
Cash contracts on the LME reached a $90-a-ton premium to those expiring a day later, the highest since 2010 and nearing levels seen in 2007 during a historic squeeze. The bourse has stepped up its monitoring of the nickel market in response, and may take further measures to ensure orderly trading if needed, a spokeswoman said by email.
