Are UK Banks Finally Putting the Customer First? Those moves sent nickel to a record high of more than US$100,000 a ton on Tuesday before trading was suspended. Video . At present, it is not clear how risky Tsingshan's position is from the rising nickel prices. JPMorgan Chase & Co., one of the largest players in global commodity markets, is reviewing its business with some commodity clients after the nickel short squeeze, Bloomberg reported earlier this . . PolyMet Mining Corp. (NYSE: PLM) PolyMet Mining Corp. (NYSE: PLM) is a mining corporation having interests in a variety of metals, including copper, nickel, cobalt, gold, silver, and platinum. Nickel inventory at the London . SYDNEY—Global producers of electric cars have big ambitions and a bigger problem: Supplies of a key material are running short. 4. Evaporating liquidity. Nickel sulfate is a brilliantly colored crystalline substance used in electric-vehicle batteries. Glencore has lost its exclusive right to market two of Libya's crude grades and oil companies like Shell and BP have already had their first allocations of the grades to which the Switzerland . The company also raised City spirits by booking a $1.5 billion provision to cover payments it is hoped to resolve a series of scandals that have resulted in ongoing . Yet the short squeeze in nickel had been the talk of the . Nickel's wild ride has created a physical trading environment of . Yu yang Eric Chen. Offer helpful instructions and related details about Lme Lead Price Chart - make it easier for users to find business information than ever Find the latest Glencore plc (GLCNF) stock discussion in Yahoo Finance's forum. GLENCORE PLC 463.00 GBp-13.20-2.77% TSINGZ TSINGSHAN HOLDING GROUP Private Company A Chinese tycoon who built a massive short position in nickel futures is facing billions of dollars in mark-to-market losses after this week's unprecedented price spike, according to people familiar with the matter. In 2019, it was on the other side of a short squeeze: it withdrew large amounts of nickel inventories from LME warehouses, causing prices to leap more than 50% in a few months. But Sumitomo had a cautionary note as well. francine: welcome back to the open. But should the market resume trading before Tsingshan closes its short positions, the brutal squeeze could be repeated, he added. That debacle was linked to a short derivatives position from Chinese nickel tycoon Xiang Guangda, who later secured a loan facility from a group of banks led by JP Morgan to help meet margin . LME cancels nickel trading after price tops $100,000/tonne - MINING.COM It is rumored that the international mining giant Glencore is the largest bullish, but Glencore has responded many times to deny malicious long. washington and brussels way more sanctions. In the run-up to the squeeze, the scale of Xiang's exposure was obscured by the fact that he spread his nickel short position across about 10 banks and brokers. Are UK Banks Finally Putting the Customer First? Debt-Payment Suspension Underlines Disastrous Economic Situation for Sri Lanka; Why Apple Has Acquired a UK Open Banking Fintech Firm; Is It Time To Get Algorithmovigilant and Confront Automation Bias? Nickel briefly crossed above $100,000 a ton on the London Metal Exchange, amid a short squeeze that's put the 145-year-old exchange under pressure. Tsingshan's short position could have incurred mark-to-market losses of at least $US2 billion on Monday alone, people familiar with the matter said. . Some market rumors are circulating that Glencore might squeeze Tsingshan on . The massive short squeeze in nickel has embroiled a unit of China Construction Bank and Tsingshan Holding Group, the world's largest producer of the metal. While Xiang stands out as the big short, there's no single trader or investor on the other end that gets the credit (or blame) for driving prices higher. 30 minutes into the european trading day. nickel short squeeze 7 Mar '22. https . Glencore PLC said Tuesday that it will return $4.0 billion to shareholders after reporting record 2021 earnings on the back of higher commodity prices. Tycoon behind nickel's big short has power to fuel more drama Massive short positions held by Xiang's Tsingshan Holding Group Co., the world's largest nickel producer, have gone disastrously awry. Swiss commodity futures giant Glencore and . Share Price Information for Glencore (GLEN) Share Price is delayed by 15 minutes . Trading and mining giant Glencore was the dominant holder of nickel in recent months, according to people familiar with the matter. In the meantime, here's a rundown of the key players in the great nickel short squeeze. The shorts: big shot (and friends) At the centre of the crisis is entrepreneur Xiang Guangda, whose Tsingshan Holding Group Co. is the world's biggest nickel and stainless steel company. At the centre of the crisis is entrepreneur Xiang Guangda, whose Tsingshan Holding Group Co is the world's biggest nickel and stainless steel company. By now, the entire nickel industry was in crisis. The company has assured creditor banks in China that its. The company's overall position in LME nickel is . The Nickel Short Squeeze: What Happened? Japan's nickel demand is projected to rise 0.2% to 170,400 tonnes, while supply is forecast to rise 1.6% to 168,800 tonnes. The Anglo-Swiss commodity mining and trading major declared a base distribution of $3.4 billion, or $0.26 a share, in respect of 2021 cash flows, and a $550 million share-buyback program. The LME suspended trading for a week and canceled billions of dollars worth of transactions earlier this month as it sought to rein in the runaway short-squeeze centered on China's Tsingshan Holding Group Co. Tsingshan struck a deal with its banks to avoid further margin calls, allowing the market to reopen last week, and said it would reduce . The LME suspended trading for a week and canceled billions of dollars worth of transactions earlier this month as it sought to rein in the runaway short-squeeze centered on China's Tsingshan Holding Group Co. Tsingshan struck a deal with its banks to avoid further margin calls, allowing the market to reopen last week, and said it would reduce . Get Live Data. The price of nickel futures that had spiked by 73% on Monday at the London Metals Exchange in a short squeeze whose squeezed party hadn't been identified at the time spiked by another 100% on Tuesday intraday on the LME to over $100,000 per metric ton, when the LME halted trading at a price of $81,051. Glencore owned more than half the nickel . . Some market rumors are circulating that Glencore might squeeze Tsingshan on LME Nickel for its 60% stake in a nickel mine in Indonesia. The world's second-largest nickel producer has over 150,000 tons of nickel short positions, 30,000 of which are on the London exchange, Bloomberg reported on March 11. . Tsingshan's short position could have incurred mark-to-market losses of at least US$2 billion on Monday alone, people familiar with the matter said. Guangda made a big, leveraged bet. Have you heard of the latest nickel short squeeze on the clown-show also known as the London Metal Exchange (LME)? Nickel prices surge above $100,000 a tonne on a huge metal short-squeeze. Glencore Plc -- one of few that is publicly listed -- is the largest trader and also a big miner. That is where nickel producing and trading giant Tsingshan Holding wound up so short that they were down about $8 billion on March 8 when prices spiked up over 200% in about 20 minutes. Yet the short squeeze in nickel had been the talk of the . LME shows the price at USD 33,050/tonne. Some market rumors are circulating that Glencore might squeeze Tsingshan on LME Nickel for its 60% stake in a nickel mine in Indonesia. ai jp morgan reviews commodity exposure after the . . Profits at Shell Plc's oil-trading unit fell by more than half last year to $1.2 billion, after bumper earnings in 2020. Perhaps what's most surprising is that this nickel squeeze happened within a market that had, for the last few years, been comparatively sedate, with rangebound trading rarely breaking above the $20,000/metric tonne (mt) mark on the upside before 2022. Mining and trading firm Glencore said in its latest annual results the margin calls it paid out increased 60% to almost US$6bn over the course of 2021, . Nickel spiked briefly above $100,000 a ton on the London Metal Exchange amid a short squeeze that's embroiled a major Chinese bank and encouraged rule changes from one of the world's top commodity. . The president of LME said the bank was partly responsible for the nickel short squeeze. But several market participants held sizeable long positions that contributed to the rally. A massive squeeze pushed nickel prices up by as much as 250%, the most extraordinary surge in the 145-year history of the LME. A deep bench of brokers led by JPMorgan Chase gave Tsingshan the leverage it needed to make this bet, and trading firms like Glencore & Trafigura took the other side of Tsingshan's position. The flatness of its stock price over recent days, in my humble opinion, is an oversight by the market which cannot last for long. is reviewing its business with some commodity clients after the nickel short squeeze, Bloomberg reported earlier this month. Global demand for nickel is seen increasing by 8.4% in 2022 to 2.999 million tonnes, while supply is expected to climb by 11.4% to 2.931 million tonnes. . An unprecedented nickel short squeeze in the week to Wednesday March 9 resulted in a 240% surge in futures prices and a historic decision by the London Metal Exchange to suspend trading and to cancel all nickel trades made on Tuesday March 8, causing global premiums to diverge. Nickel rocketed to a record high above $100,000 a ton on Tuesday, driven in part by Tsingshan and its brokers' activity, before trading was suspended. But recent events have certainly injected a dose of volatility into the market. Big Short Keeps Nickel Market on Edge One Month After Squeeze. Ask: 513.50. . "Nickel in LME plunges by 12% and falls by the limit again. Glencore Plc, one of the few that is publicly listed, is the largest trader and also a big miner. Tsingshan Group is the partner of Huayou that develops the nickel project. The Glencore share price 1.5% having jumped as much as 4% in early trading after the company announced it is to return $4 billion to investors in dividends and share buybacks. Do we have another short squeeze in the works?? Lower oil prices pull down energy sector and TSX to start week Vitol Group is. hub grapples for its mojo after unprecedented #Trading snafu A 250% surge in just over 24 hours imperilled dozens of short sellers # . It was a classic short squeeze, as the pain for Tsingshan, its brokers, and other shorts created a self-reinforcing cycle. The price of nickel on the London Stock Exchange surged 76% in a single day to $50,905 per ton, a record high. Mar 9, 2022 - 9.12am Singapore | A Chinese tycoon who built a massive short position in nickel futures is facing billions of dollars in mark-to-market losses after this week's unprecedented price. Tsingshan's nickel short position, normally used to hedge existing production, ballooned to reflect Guangda's view. The spike was driven in large part by a short squeeze centered on Chinese tycoon Xiang Guangda, who had amassed a big wager that nickel prices would fall through his company Tsingshan Holding Group Co. . JPMorgan Chase & Co., one of the largest players in global commodity markets, is reviewing its business with some commodity clients after the nickel short squeeze, Bloomberg reported earlier this . Nickel prices doubled on Tuesday and briefly rose above a record $100,000 a tonne as banks and brokers rushed to close part of a huge position amassed by Xiang Guangda, the billionaire founder of. Demand for a form of nickel needed in electric-vehicle batteries is starting to outpace supply. In the meantime, here's a rundown of the key players in the great nickel short squeeze. Mining News Pro - Silver Elephant Mining and Battery Metals Royalties have announced that they have entered into a binding letter of intent pursuant to which Battery proposes to acquire a 45% equity interest of Silver Elephant's wholly owned Mega Thermal Coal Corp. (formerly Asia Mining Inc.), which owns and operates the Ulaan Ovoo and Chandgana thermal coal mines in Mongolia through Mega . #nickel #Tsingshan #LME . Thursday, March 17, 2022 - 12:53:07. . Tsingshan Group is the partner of Huayou that develops the nickel project. The company's overall position in LME nickel is short - it uses the exchange to protect against price risk on the . Is a Stock Market Crash Around the Corner? The tycoon known as "Big Shot" in Chinese commodity circles had built a giant short position in LME nickel in a bet that increasing supply from his company would drive down prices. SALES, RENTALS & LAYAWAYS. London's metal traders are still reeling from the historic squeeze in nickel a month ago, but they may not get much time to recover — inventories across the exchange's warehouses have dropped to perilously low levels, raising the threat of further spikes in everything from aluminum to zinc. For the continued surge in nickel prices, in addition to low inventories and tight supply, which provided important fundamental support for nickel prices, industry insiders also pointed out the possibility of short squeeze (also known as short position) affected by the Ukraine-Russia conflict. There's nothing unusual or inappropriate about . The LME opened a review into trading activity, but took no further action. But several market participants held sizeable long positions that contributed to the rally. we will have a conversation with the u.s. trade representative kathie t at this hour. And once again, this short squeeze racked up billions in losses for those involved. Thursday, March 17, 2022 - 12:53:07. Mining News Pro - The London Metal Exchange temporarily froze electronic trading in nickel after it restarted from a week-long suspension, as a glitch allowed prices to plunge past a new daily limit that was supposed to help restore order following last week's historic short squeeze. There's nothing unusual or inappropriate about . Some market rumors are circulating that Glencore might squeeze Tsingshan on LME Nickel for its 60% stake in a nickel mine in Indonesia. . When nickel rose rapidly after Russia's invasion of Ukraine, Tsingshan struggled to pay its margin calls, setting the stage for a short squeeze. Mining.com: LME Risks More Short Squeezes . When nickel rose rapidly after Russia's invasion of Ukraine, Tsingshan struggled to pay its margin calls, setting the stage for a short squeeze. Some hedge funds were buying nickel contracts in a bet on the electric vehicle boom. this week's short squeeze is nonetheless likely to push . In the run up to the squeeze, the scale of Xiang's exposure was obscured by the fact that he spread his nickel short position across about 10 banks and brokers. One possibility is that holders of Russian metal stored in LME warehouses have chosen to relinquish their holdings, according to two nickel traders. It ranks tenth on our list of the top ten nickel stocks to purchase right now. Debt-Payment Suspension Underlines Disastrous Economic Situation for Sri Lanka; Why Apple Has Acquired a UK Open Banking Fintech Firm; Is It Time To Get Algorithmovigilant and Confront Automation Bias? PROTECTING EVERYTHING THAT HAS EVER BEEN OF VALUE TO YOU . While the exact scale of Xiang's losses is unclear, Tsingshan's short position on the LME is in the region of 100,000 tons of nickel, people familiar with the matter said. Bid: 513.20. The tycoon known as "Big Shot" in Chinese commodity circles had built a giant short position in LME . The longs: VW, Glencore, hedge funds. Now @Glencore and @GM sign long term #cobalt supply deal Following hot on the heels of @VW recent JV w/ # . Video . this week's short squeeze is nonetheless likely to push . The unlikely cast behind nickel's big squeeze 2022-03-31 - . . Why did the "short squeeze" game appear? Tsingshan Group is the partner of Huayou that develops the . Blackstone Inc. has nearly doubled its London headcount to 500 people during the pandemic, Bloomberg reported Monday. The commodity trading industry is dominated by a group of mostly private companies. Mining News Pro - The London Metal Exchange temporarily froze electronic trading in nickel after it restarted from a week-long suspension, as a glitch allowed prices to plunge past a new daily limit that was supposed to help restore order following last week's historic short squeeze. And Tsingshan has a history of aggressive trading. The banks: JPMorgan and the rest. What's more, while he held about. Copper settled lower after rising to an all-time high of $10,845 earlier, while aluminum dropped 2.8% after rising to a fresh record. The drop in trading profits seems large, especially in . At one point, they hit. The tycoon known as "Big Shot" in Chinese commodity circles had built a giant short position in LME nickel in a bet that increasing supply from his company would drive down prices. According to certain media sources, the 200,000-ton nickel short order made by Tsingshan Group, a Fortune 500 business in Wenzhou, may not be available in stock since Russian nickel was taken off the LME because of the Russia-Ukraine crisis and financial penalties. Tsingshan Holding Group was looking at an $8 billion trading loss after nickel prices soared, The Wall Street Journal reported Tuesday . Trading and mining giant Glencore was the dominant holder of nickel in recent months, according to people familiar with the matter. Nickel price news. Nickel touched a high of $55,000 a ton on the LME. What's more, while he held about 30,000 tons of his short position directly on the LME, that was less than a fifth of its total size of over . Nickel soared past an unprecedented $100 000 a ton on the London Metal Exchange amid a huge short squeeze that's embroiled a major state-owned Chinese bank and encouraged rule changes from one . The Nickel Short Squeeze: What Happened? Perhaps what's most surprising is that this nickel squeeze happened within a market that had, for the last few years, been comparatively sedate, with rangebound trading rarely breaking above the $20,000/metric tonne (mt) mark on the upside before 2022. . But the short-squeeze got worse overnight in London and prices climbed much higher. There is no reason whatsoever why the stock shouldn't promptly catch up to the moves in the underlying commodities. Vitol Group is the top independent oil merchant and Trafigura Group leads the group in copper. As of March 30, the nickel spot price was USD 15.44, up very significantly from USD 11.32 last month. Those moves sent nickel to a record high of more than $US100,000 ($136,000) a tonne on Tuesday before trading was suspended. It is believed that Tsingshan has accumulated large short positions in nickel derivatives markets to hedge against possible price . The giant commodity trader Glencore Plc also had a . When nickel rose. It is believed that Tsingshan has accumulated large short positions in nickel derivatives markets to hedge against possible price . Some market rumors are circulating that Glencore might squeeze Tsingshan on LME Nickel for its 60% stake in a nickel mine in Indonesia. The longs: VW, Glencore, hedge funds. We have been working closely with Glencore and the Bolivian government to ensure a smooth transition while the mines have generated sufficient cash flow to decrease the initial US$20 million upfront consideration down to US$12,011,148, which will be paid by Santacruz to Glencore within 30 days of closing and will be paid from working capital . While Xiang stands out as the big short, there's no single trader or investor on the other end that gets the credit (or blame) for driving prices higher. The tycoon known as "Big Shot" in Chinese commodity circles had . The LME convened its "special committee," a small group of metals and legal experts with the power to issue emergency rules for the market. Trader and miner Glencore is another large long-position holder and has at times controlled more than half of the available inventories in LME warehouses. Share Price: 516.80. Unlikely cast takes stage in nickel short squeeze 2022-04-03 - JACK FARCHY Furious investors and traders. Wishlist CART: (0) Sign In / Register (818) 298-3292 (818) 298-3292 (Text) Life-Time Warrantie! Glencore is a major global producer of all the above commodities. Despite clear signs of stress, the LME decided to re-open in the early hours of Tuesday. Nickel Spikes 60%: Here's Why That Matters And Who Will Be Hit. By Wolf Richter for WOLF STREET. The prospect of demand will improve the recovery . ["China Nickel King" was forced into position] The cause of the incident has to start from a shocking massacre of bulls against bears that occurred on the London Stock Exchange on March 7. Trader and miner Glencore Plc is another large long-position holder and has at times controlled more than half of the available inventories in LME warehouses. . Is a Stock Market Crash Around the Corner? . When nickel rose rapidly after Russia's invasion of Ukraine, Tsingshan struggled to pay its margin calls, setting the stage for a short squeeze. 8 Mar 2022 - 6:03PM A few weeks ago, the Chinese nickel short whale begged his bankers to replenish his account in order to maintain his massively underwater short position while the LME, in corrupt, colluding fashion suspended all . The London Metal Exchange has given a unit of China Construction Bank Corp. extra time to pay $$$$ in margin calls it . . . 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