Commentary Chinese stainless steel giant Tsingshan Holding Group (THG) has for many years relied on short selling to reduce its future costs for nickel, a key component of stainless steel and a major ingredient in lithium-ion batteries. But rather than nickel prices falling as hoped, the price skyrocketed to over $100,000 per ton on March…
China’s Insider Influence Over Metals Trading Creates Advantage for Its Domestic Enterprises
March 27, 2022
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Nickel Trading Resumes in London After a Rescue Deal for Chinese Tycoon Reached
Nickel trading resumed on the London Metal Exchange (LME) on March 16 after being suspended for more than a week. The exchange took an unprecedented step to halt trading in the nickel market on March 8 after a Chinese metal tycoon faced billions of dollars in losses due a large short position. Last week, nickel’s price skyrocketed, crossing the $100,000-a-ton mark for…
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