I don't understand the LME situation. By going short, Tsingshan...

I don't understand the LME situation. By going short, Tsingshan sold futures and received cash. Then the trend went against them in a big way. I believe trading was quite thin in the day and a bit when nickel went up by 200-odd percent, but nevertheless Tsingshan bought some at those high levels covering some of their short position at the cost of some or all of the cash it had thought was going to be largely profit. It still holds a major short position.
Enter LME, who cancel the second day's stratospheric deals, pissing off some, but no doubt relieving Tsingshan of some of its pain.
Since then we've had two days when the market has opened with a limit on change, has instantly reached that limit on the down side, and has immediately closed with very few trades occurring. I'm not sure if they opened up again later in the day to allow more trades.
My question is, why are we going through this apparent farce of five minute trading days - probably to continue until the LME price for nickel matches the Shanghai market price?
Why not cut to the chase and immediately adjust the LME price to the Shanghai one?- LME has already telegraphed that it is bending over backwards for Tsingshan, these short trading days are just rubbing it in for the rest of the market.
I'm sure my understanding of the situation is flawed, so I'm keen to be straightened out.