JP Morgan holds 1/3 of the short position on behalf of Tsingshan, and some other banks are also involved in it. If Tsingshan broke, JP Morgan will also be in trouble, this is why LME suspend the Nickel trading till now. LME is protecting its biggest shareholder JP Morgan, and itself. I believe the US government will not allow JP Morgan to fail and also China government will also protect Tsingshan. This matter is still moving on, but I am positive about the result. If the Nickel price can go up 300%, it can go down. The market is easy to manipulate for those financial giants.
LME Nickel Price, page-14
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Last
82.5¢ |
Change
-0.030(3.51%) |
Mkt cap ! $3.535B | |||
| Open | High | Low | Value | Volume |
| 85.5¢ | 85.5¢ | 81.5¢ | $51.68M | 62.61M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 1989834 | 82.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 83.0¢ | 821633 | 9 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| NIC (ASX) Chart |