Nickel Tycoon Tells Banks He Needs to Preserve Shorting the Metallic

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The tycoon whose huge quick wager on nickel helped set off one of the vital dramatic worth spikes in historical past has instructed his banks and brokers that he doesn’t intend to cut back his place, based on individuals acquainted with the matter.

The transfer is a attribute show of self-confidence from Xiang Guangda, the proprietor of Tsingshan Holding Group Co., and signifies that the nickel market might be set for extra fireworks as soon as it reopens.

The London Metallic Trade halted buying and selling in nickel on Tuesday morning after costs spiked as a lot as 250% in two days, pushed by brokers speeding to …



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