JPMorgan's $1.3 Million Nickel Purchase Turns Out to be Bags of Stones

JPMorgan Chase stored bags of stones in a Dutch warehouse, believing they contained $1.3 million worth of nickel. The London Metal Exchange revealed the mix-up last week, with the bags containing stones instead of nickel. The bags were reportedly bought by JPMorgan Chase years ago, and the company remains an active player in big metals. The logistics firm Access World, which owns and operates the warehouse, is likely to bear the burden of the mix-up.