We know that China is not happy with speculation in commodity markets right now, we have seen an industry wide move in Iron Ore to stop speculation in the markets.
At a minimum Tsingshan is in a lot of trouble with the CCP for this blatant manipulation.
Tsingshan are buying all of NIC's nickel, and funding their development of the mines. This obviously creates fairly material uncertainty for NIC. Who is now going to be in charge after the CCP investigates? Does NIC have anything to do with the LME market? How deep does this run.
Not sure.
Could be a buying opportunity, however it seems unlikely the CCP is going to allow a foreign interest in NIC's operations. So not sure how this all sorts itself out.
We know that China is not happy with speculation in commodity...
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Last
82.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $3.535B | |||
| Open | High | Low | Value | Volume |
| 82.5¢ | 83.5¢ | 80.5¢ | $3.044M | 3.691M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 40000 | 82.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 83.0¢ | 23115 | 3 |
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| Last trade - 16.10pm 19/08/2024 (20 minute delay) ? |
| NIC (ASX) Chart |