The world’s biggest nickel and stainless steel producer, Tsingshan Holding Group, suffered a fiasco in a global capital sniping on the London Metal Exchange (LME) on March 7, with its 200,000-ton nickel forward contracts caught in a delivery default and facing potential losses of billions on its short positions. However, a dramatic reversal occurred, attributed to the LME and China’s State Reserves Bureau. Ahead of Tsingshan Holding falling into a dilemma of delivery defaults, LME announced on March 8 that it would suspend nickel trading and cancel all nickel trades for the day, followed by a continuous halt in nickel dealing until March 11. This is a rare suspension of metal trading on the LME since 1985, said The Wall Street Journal on March 10. Mark Thompson, the executive vice-chairman of the British mining company Tungsten West Ltd, wrote on Twitter on March 8 that his best guess was that Tsingshan …