Nickel Prices Plummet To 6-Month Low ...Middle East

OILPRICE - Economy
Nickel Prices Plummet To 6-Month Low
source : OILPRICE ( Middle East ) () 20
According to a recent Bloomberg report, the man behind the historic March nickel squeeze walked away from the crisis with an estimated loss of $1 billion. To most, that figure sounds almost unimaginable. However, it’s a far cry from the more than $10 billion loss he faced when nickel prices surged past $100,000/mt. Instead, Xiang Guangda, owner of mining and steelmaking company Tsingshan Holding Group, managed to close out nearly all of his short positions almost four months later. Guangda’s ability to withdraw with nearly all his assets…

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