The exchange unveiled rules meant to rein in nickel-price moves and protect its members, after Chinese metals giant Tsingshan Holding Group racked up billions of dollars in losses from wrong-way bets. The LME also introduced guardrails for trading in other metals.
That sounds like a good deal if you own heavy leveraged positions. I'm sure this will go as planned.
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Capitalism for the average person, but socialism for the rich.
Not rigged at all
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Banks to Keep Talking on Nickel Trading Losses, Tsingshan SaysChinese producers and suppliers of nickel compounds have sent notices to their customers and investors warning of supply hiccups, price hikes, or slowdowns on orders half of the Mindeleev table soon Meanwhile, the U.S. is gonna wait till it's too late to do anything, and then when it hurts us, blame China, yet still do nothing. The deal provides a mechanism for Tsingshan to reduce its position in nickel as market conditions normalize, the statement said. - in other words: we can now wait for as long as we want until we make a profit.
Source: WSJ - 🏆 98. / 63 Read more »
Cryptocurrency prices mixed; Bitcoin trading at $39,000Cryptocurrency was mixed early Monday morning as bitcoin and dogecoin were lower, but ethereum was higher.
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