Nickel: JPMorgan owns the invalidated contracts at the LME

JPMorgan Chase & Co. owns the London Metal Exchange (LME) nickel contracts that turned out to be backed by bags of stones instead of metal. The LME announced it had cancelled nine nickel contracts, worth about $1.3 million, after discovering "irregularities" in a certain warehouse, which according to Bloomberg was owned by Access World (read […]