I'm not usually a conspiracy theorist but could speculate that it was a conspiracy (backed by Chinese government) to influence nickel prices that got away from then as a result of the war in Russia. Sure Tsingshan is termed a private company (official ownership) but if you look at its financial backers (lenders) they have strong links to the Chinese government. The spot nickel market has been characterised as 'strange' for a few months now, and China wants to be the world leader in renewable energy. Nickel is one of the important commodities in the revolution and having an influence on supply and pricing could be advantageous to its goals.
The good part is that Tsingshan will survive. Like Evergrande they will be managed and supported out of their problems by the LME (controlled from Hong Kong) and the Chinese government (finance). This will entail undoing the damaging shorts which should hold nickel prices at higher levels than they normally would be, at least in the immediate future.
Now as for the moon landing and Kennedy assassination ....
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Open | High | Low | Value | Volume |
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6 | 151711 | 0.820 |
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Price($) | Vol. | No. |
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0.835 | 89789 | 7 |
0.840 | 112668 | 6 |
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