From what I heard, he was expecting NPI and LME prices are somewhat correlated and since they produce huge quantities of NPI, his shorts are in a way covered. but that's assuming NPI and LME prices move in tandem. Unfortunately, he has been pretty much cornered on his LME shorts, NPI prices has not been moving in line with LME prices and his NPI production cannot fill those order. In a disastrous situation at the moment and some rumours say he may have to close those positions soon to prevent catastrophic losses of being short squeezed further
From what I heard, he was expecting NPI and LME prices are...
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Last
80.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $3.450B | |||
| Open | High | Low | Value | Volume |
| 82.0¢ | 82.0¢ | 80.0¢ | $2.719M | 3.367M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 19814 | 80.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 81.0¢ | 22292 | 2 |
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| Last trade - 16.10pm 29/07/2024 (20 minute delay) ? |
| NIC (ASX) Chart |