Oh, just remembered:
Spare a thought for any decent run-of-the-mill members of the Ni production chain who for whatever normal commercial reason were carrying some degree of short hedge book relating to some of their of future production to be delivered at settlement. You know, a real hedge. Spare a thought for the margin calls they would have received and needed to made good on pursuant to Monday's price action. (We're forgetting about Tuesday because it never happened... honest.)
Now spare a special thought for those poor souls (miners, processors, whomever) who were only carrying those short hedges because their lenders mandated it!
It can be a very cruel world.
Nickel Boner Update, page-4267
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