A report in the Wall Street Journal has reported that POSCO is short by 10,000 tonnes of Nickel on it's LME futures position, and a further 20,000 tonnes in the physical market. The company has since denied this, but if they are lying (the company is Korean, and executives from there are known to distort facts to save face) then they face the prospect of having to buy 30,000 tonnes on market at some point. At current prices that's $810 million worth. LME warehouse stocks are down to about 5,800 tonnes or so. If there's any truth to it then this could be a huge market mover.
A report in the Wall Street Journal has reported that POSCO is...
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