High commodity
Nickel trading was suspended this week after prices rose to over $100,000 per tonne – double its previous peak of $50,000. How do other commodity prices compare with their peaks since the 2008 financial crisis?
Previous peak
Silver $43
Brent crude $140
Gold $1,853
Aluminium $3,124
Tin $33,015
This week
Silver $26
Brent crude $139
Gold $2,050
Aluminium $3,849
Tin $50,025
Short squeeze
The extraordinary rise in nickel prices was partly caused by a ‘short squeeze’, where investors try to exploit bets by other traders that prices would decrease.
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