Nickel Mines – Nickel Price Volatility
Nickel Mines is a nickel miner, and pig iron producer focused on several Indonesian projects in partnership with the world’s largest stainless-steel maker Tsingshan.
The share price fall is related to uncertainty regarding its JV partner Tsingshan. LME Nickel price volatility spiked, with prices doubling from $45/kg to >US$100/kg before trading was suspended. The news suggests a large nickel producer facing margin calls on nickel derivative losses caused a short squeeze due to Russian supply disruption and limited spot inventory. China’s Tsingshan is reported to be the entity with exposure.
