There has been new progress in the fact that Chinese-funded Fortune 500 private enterprises have been forced to take a position by Tsingshan Group, and it is also a super reversal.
According to the latest response of Tsingshan Group, sufficient spot has been allocated for delivery.
16 hours of horror! Tsingshan Holdings was forced to take a position
In the past few days, the global stock market has been sluggish, but the commodity market has soared all the way, especially the London Metal Exchange nickel price rose 248% in two consecutive trading days.
(London Metal Exchange suspends trading of composite nickel quotes Courtesy photo: Oriental Wealth)
Tsingshan Group is a large nickel miner, in order to reduce the price fluctuations to bring contract risks, in London to take hedging transactions, opened 200,000 tons of nickel short orders, due to the suspension of trading on the exchange, Tsingshan Group can not take out the corresponding inventory of empty orders, so it was targeted by one of the world's largest nickel producers, commodity giant Swiss Glencore, in an attempt to accurately implement capital sniping with the help of rule loopholes, and began to force positions.
Xiang Guangda, the actual controller behind Tsingshan Group, has been extremely low-key in the first half of his life, and in the past few days, this mysterious 65-year-old Wenzhou rich man has been coordinating with all parties.
Previously, there have been rumors that if the 200,000 tons of nickel empty order opened by Qingshan Group cannot be handed over to the spot, the loss is expected to exceed 8 billion US dollars.
From 16:00 Beijing time on March 7, Lun Nickel opened to a record high, to the 8th Beijing time, Lun Nickel rose 248% in two trading days, just 16 hours, Tsingshan Holdings' short order theoretically floated loss of more than 12 billion US dollars, about 20% of the company's 2021 revenue.
And Glencore can bet that there is no bullet in the gun of Tsingshan Group, and it cannot take out nickel spot.
Some people in the industry who have been in the futures market for many years can't help but sigh: "What scene have I not seen?" I've never seen this face! ”
However, on the evening of the 9th, the Qingshan Group began a major counter-killing.
Tsingshan Group's domineering response: it has been allocated to sufficient spot for delivery
According to the Securities Daily, Tsingshan Group responded that it will replace the domestic metal nickel plate with its high-ice nickel, and has been allocated to sufficient spot through various channels for delivery. This time, Qingshan Group can immediately allocate so many spot deliveries, and netizens speculate whether there is a mysterious force to shoot.
Earlier, Xiang Guangda responded: "Foreigners do have some actions and are actively coordinating. I received a lot of phone calls today, and the relevant departments and leaders of the state are very supportive of Qingshan. ”
Market analysis, if all 200,000 tons are raised, it may put great pressure on the other party, and Glencore, who maliciously forced the warehouse, may face the situation of "lifting a stone and dropping his own foot".
Qingshan Industrial Building is located at No. 588 Dongdaming Road, Shanghai, adjacent to the picturesque North Bund Riverside Greenland, the group is currently China's largest stainless steel producer, the data shows that in 2020, the total crude steel production of stainless steel in the mainland accounted for about 60% of the world, of which Tsingshan Group's stainless steel crude steel production accounted for 35.8% of the supply in the Chinese market and 21% of the global output.
In 2021, Tsingshan Holdings will have revenues of more than 350 billion yuan and profits of tens of billions of yuan. Xiang Guangda, with assets of 21.5 billion yuan, firmly sat on the throne of the richest man in Wenzhou on the "2021 Hurun Global Rich List".
On the other side of the incident, the rumored Glencore was founded in 1974 by billionaire Mark Ritchie, whose predecessor was one of the world's largest integrated commodity producers and marketers, covering production, procurement, processing, smelting, transportation, storage, financing, supply of metals and minerals, energy products and agricultural products, and is currently one of the world's top 50 mining companies with a market value of $67.5 billion.
However, Glencore has been controversial since its inception, with Glencore being warned in May 2012 for forcing copper shorts, and in May 2016, Glencore was exposed as having been hoarding crude oil on the market, storing it in offshore tanks in hopes of boosting Brent crude futures prices and pushing up oil prices by controlling supply.
According to Radar Finance, a senior person who did not want to be named speculated that Glencore may have problems in gambling on Tsingshan Group's planning for mineral exploitation. In recent years, the demand for nickel in new energy has been too large, and Qingshan has opened up the production line from nickel to stainless steel, which is very profitable and is very likely to overdraft production capacity.