Trader Known as ‘Big Shot’ Battles Mystery Nickel Stockpiler
- Xiang Guangda’s Tsingshan has amassed large short positions
- Unidentified stockpiler has helped push prices to decade high
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In Chinese commodity circles, he’s known as “big shot” -- the man who controls the world’s largest nickel producer and isn’t afraid to place big derivatives bets on where prices are headed next.
Now Xiang Guangda has emerged at the center of a market drama that’s fueling some of the largest price swings in years for a key ingredient in the fight against climate change.