Hi Friends,
A few things to consider for this event:
- LME annouced all the margin requirement has been met. (Notice 22/055 Item 4)
https://www.lme.com/en/Metals/Non-ferrous/LME-Nickel#Trading+day+summary
- Report suggests that Beijing is helping Tsingshan with their nickel plate (Class 1 pure nickel) in the State Reserves Bureau.
https://www.ft.com/content/067ee28e-0375-48d3-a7c9-2d4330a9cc34
- Tsingshan is the biggest stainless steel maker in the world with US 56 Billion revenue. The potential US 7 Billion loss (if the chairman refused to settle with physical inventories) only accounts 12.5% of their annual revenue.
- Tsingshan has no intentions to sell any position in NIC and the $1.37 placement will not be affected.
- NIC is operating normally and our directors decided to refund the heavily oversubscribed SPP in full.
The share price may continue to drop on Monday but I believe it will bounce back and reflect the true value.
In my opinions only and time will tell.
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---|---|---|
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Price($) | Vol. | No. |
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View Market Depth
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22 | 386034 | 0.765 |
24 | 424747 | 0.760 |
14 | 251108 | 0.755 |
32 | 307516 | 0.750 |
Price($) | Vol. | No. |
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0.780 | 321992 | 23 |
0.785 | 270872 | 15 |
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