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Nickel Tycoon Tells Banks He Wants to Keep Shorting

  • Xiang shrugged off suggestions to reduce short positions
  • Tsingshan’s nickel short position stood at about 150,000 tons
Updated on

The tycoon whose big short bet on nickel helped trigger one of the most dramatic price spikes in history has told his banks and brokers that he doesn’t intend to reduce his position, according to people familiar with the matter.

The move is a characteristic display of self-confidence from Xiang Guangda, the owner of Tsingshan Holding Group Co., and means that the nickel market could be set for more fireworks once it reopens.