"If the balance in the account is less than the maintenance margin, the trader must place additional funds to meet the maintenance margin. If the trader does not meet the margin call, the broker or exchange could unilaterally liquidate the position."
I believe Tsingshan asking not be liquidated. Most of the positions are held with counter parties so you can't put nickel in LME. Either you close your position or put more margin or deliver the physical when it is due.
from AFR"At the same time, Beijing is mulling a potential rescue of Tsingshan, which would allow it to swap some lower-grade nickel it produces for refined metal held in China’s state reserves, which could then be delivered against its contract at the LME.
Sticking point
But there appears to be a sticking point in the talks. Both the LME and Chinese officials want Tsingshan to pay its brokers and exit its position, allowing the market to reopen in an orderly fashion.
Tsingshan’s bridging loans, however, give it the ability to meet margin calls when the market reopens.
Xiang is obviously calculating that the situation can be resolved without losses, either for Tsingshan or its banks. That’s because if the Chinese nickel giant can find a way through its present difficulties, it will ultimately benefit from higher prices."
Dyo & imo
- Forums
- ASX - By Stock
- NIC
- Ann: Ceasing to be a substantial holder
Ann: Ceasing to be a substantial holder, page-65
-
-
- There are more pages in this discussion • 8 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add NIC (ASX) to my watchlist
(20min delay)
|
|||||
Last
96.5¢ |
Change
0.005(0.52%) |
Mkt cap ! $4.139B |
Open | High | Low | Value | Volume |
96.0¢ | 97.5¢ | 95.5¢ | $3.906M | 4.050M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 108724 | 96.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
97.0¢ | 61075 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 108724 | 0.960 |
7 | 104902 | 0.955 |
7 | 128005 | 0.950 |
4 | 95940 | 0.945 |
3 | 87051 | 0.940 |
Price($) | Vol. | No. |
---|---|---|
0.970 | 61075 | 7 |
0.975 | 95198 | 5 |
0.980 | 225319 | 11 |
0.985 | 33747 | 3 |
0.990 | 251029 | 16 |
Last trade - 16.10pm 17/10/2024 (20 minute delay) ? |
Featured News
NIC (ASX) Chart |
The Watchlist
LPM
LITHIUM PLUS MINERALS LTD.
Simon Kidston, Non Executive Director
Simon Kidston
Non Executive Director
SPONSORED BY The Market Online