Category: Tsingshan Holding

London Metal Exchange Faces Complaint from US Hedge Fund Group Over Cancelled Nickel Trades

June 15, 2022
Business & MarketsChinacommoditiesCompaniesdemon nickelhedge fundHK BusinessHKEXHong KongInvestmentLMELondon Metal Exchange (LME)MarketsNickelTsingshan HoldingUKUSUS NewsWorld
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New Analysis On June 1, U.S. hedge fund Elliot Management filed a suit against LME in the English High Court for $456 million over its controversial decision to suspend nickel futures contracts and cancel trades in early March. A few days later, on June 6, trading house Jane Street also filed its case against the exchange…

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China Remakes Global Markets

March 22, 2022
Business & EconomyBusiness ColumnistsLondon Metals ExchangeOpinionThe Hong Kong Stock ExchangeThinking About ChinaTsingshan Holding
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Commentary Away from the battlefields of Ukraine, a battle is taking place on a global exchange for what exactly constitutes a market and their rules. China, long known for manipulating its domestic market and cheating on global markets, is taking that to a new level by protecting Chinese firms from trading losses. The London Metals…

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World’s Largest Nickel Producer Faces Billions in Losses; China Releases National Reserves to Rescue

March 16, 2022
Business & EconomyChinaChina Business & Economycommoditiesfutures marketHK BusinessHong KongHong Kong Stock ExchangeLMELondon Metal ExchangeLondon Metal Exchange (LME)MarketsNickelnickel miningTsingshan HoldingUKWorld
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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…

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