WebMar 14, 2024 · Short-covering trades made last week by the Chinese billionaire contributed to a swift, huge surge in nickel prices that saw the commodity briefly top more than $100,000 a ton. To contain the ... WebMar 10, 2024 · The London Metal Exchange (LME) three-month nickel price sits in suspended animation at $48,048 per tonne, Monday’s closing price and the last trade with even a semblance of legitimacy.
Ah OK, a Chinese tycoon (nicknamed
WebMar 10, 2024 · Xiang Guangda’s wrong-way bet on nickel futures helped trigger one of the wildest commodity price spikes in history. Now the Chinese tycoon known as “ Big Shot ” must decide whether to ... WebMar 8, 2024 · Updated March 8, 2024 4:42 pm ET. Text. HONG KONG—Chinese nickel titan Tsingshan Holding Group faces billions of dollars in trading losses, people familiar … simply green pharmacy stillwater ok
LME boss says banks are partly to blame for nickel short squeeze
WebMar 14, 2024 · Tsingshan has to either pay off the outstanding short positions, which could be as high as $8 billion, or prove it has sufficient deliverable nickel to repay in kind. … WebTsingshan is one of the biggest Nickel producer in China(Biggest is MCC), according to Bloomberg, "Xiang began building the short position in part because he wanted to hedge rising output, but also because he believed the rally in nickel prices would fade this year" tl;dr went from "haiya it's going to go down anyway, short it on margin because is free … WebMar 10, 2024 · As Russia’s invasion of Ukraine pushed up prices, short-position holders — including Tsingshan — scrambled to trim their bets. Those moves sent nickel to a record high of more than $100,000 ... rayswinden outlook.com