Nickel spikes 60%: Here's why that matters and who will be hit

The price of nickel spiked more than 60% Monday, one of most extreme moves ever seen on metal markets. Here’s why that matters and who’ll take a hit.

The metal added more than $10,000 to trade at a 15-year high above $40,000 a ton -- the biggest-ever daily dollar gain in the 35-year history of the contract.

Russia is one of the world’s biggest suppliers of the metal, and the fear of sanctions or the inability to ship the metal has spooked an already tight market. Liquidity deteriorated dramatically in the nickel market overnight as sellers rushed to the sidelines, leading to