I guess we’d call this oligopsony?

The monopsony (single buyer of a good) equivalent of an oligopoly?

Phew, it is a word, but not a highly studied one!

https://en.wikipedia.org/wiki/Oligopsony

Economic history is full of examples of demand shocks. This is not some unique situation that has never occurred before.

This is actually a clean commodity price spike because it’s specifically not for market manipulation or financial engineering. It’s because demand for this product really did explode overnight.