"If the balance in the account is less than the maintenance...

"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