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Big Short Keeps Nickel Market on Edge One Month After Squeeze

  • Tsingshan’s short position is little changed in past two weeks
  • LME volumes remain sharply lower after last month’s crisis
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JPMorgan Reviews Commodity Exposure on Nickel Chaos

The world’s main nickel market is broken and no one seems to know how to put it back together. 

One month since the metals world was brought to its knees by an unprecedented squeeze, the “big short” that sparked the crisis is still mostly in place. Volumes on the London Metal Exchange have all but dried up, and prices are stuck at historically high levels that have become detached from the real world of much of the nickel industry.