Getting up there. Will circulated coinage come back, or is it all going to be melted down for electric cars?
Copper also up. Solar power cables getting more expensive than the panels.
Getting up there. Will circulated coinage come back, or is it all going to be melted down for electric cars?
Copper also up. Solar power cables getting more expensive than the panels.
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Trades will be halted today. Only other metal to ever be halted was tin.
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Real website.
http://www.bnnbloomberg.ca/lme-suspe...pike-1.1734132
Yah, that's fucking crazy.
Looking around
Wondering what became
Of what I once knew
Someone didn't listen to ZenOp and tried to short Nickel.This quote is hidden because you are ignoring this member. Show Quote
So ah, should I drive around in the flat bed and start grabbing Tesla's and EVs? Those batteries are 80%+ nickel.
Credit to Zenops, he's been all about nickel for years.
Thanks, it finally happened. Now only thing left is the California quake.
LME still quotes by the ton. If it goes and stays above $32/pound it might be more useful to quote by the ounce. It is the only money that I ever grew up with afterall. 3 tons of nickel would be quite a nestegg.
BTW: 1 cubic meter of nickel = 8.91 tons, which is roughly $1 million if they actually let it trade. Battleship armor is typically 25 inches thick.
Last edited by ZenOps; 03-08-2022 at 08:56 PM.
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Day 2 of nickel halt.
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Tesla needs more government subsidies soon.
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Elon wants his own nickel mine. Thing is: You can be a multibillionaire, but you can't buy what doesn't exist. He could try to buy Creighton, but its literally at end of life.
Even before lithium was used, Nickel Metal hydride was the best rechargeable.
A lot of the early nickel produced is forever locked inside of stainless steel, and battleships. Once that Krupps cemented armor is made, it cannot be unmade.
The nickel short was rumored to be $12 Billion worth (roughly 1 Billion pounds of nickel). Of which they are allowing extra days for the contracts to expire (bailing out the billionaires)
Last edited by ZenOps; 03-10-2022 at 08:19 AM.
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Truth. You can't recycle the nickel out of steel in any efficient manner. It's a one way trip.
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Its set to reopen tomorrow (friday), probably forced to $12 or so, with maybe 10% per day limits.
https://www.theglobeandmail.com/inve...bad-behaviour/
Free market is dead. Devils metal indeed.
Last edited by ZenOps; 03-10-2022 at 09:37 AM.
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Correction, it appears that they are going to go through the weekend without restarting the market.
Makes me wonder how many days it actually takes for fill that massive short. Are they literally at zero tonnage nickel at the LME? Shades of Fort Knox having no gold.
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OK.
Well... Nickel trading might just be suspended for four years, like they did with tin back in 1985? No retail investors allowed, only miners and registered companies that consume (steel mills and battery makers)
Edit: Nope, looks like Wednesday open.
5% limits would suck.
Last edited by ZenOps; 03-15-2022 at 04:18 PM.
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Trading halted. Some contracts will be rolled back, restart was unsuccessful.
https://ca.finance.yahoo.com/news/ni...080641340.html
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Still broken, 12% limits didn't do much. But at least one guy knows the score, highly technical explaination of how a market breaks, and how not to fix it.
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