Financials Mar 12, 2022 07:18 AM (GMT+8) · EqualOcean
According to Bloomberg, citing people familiar with the matter, among the nickel short positions of more than 150000 tons held by Xiang Guangguang, the actual controller of Qingshan holdings, about 50000 tons are off-site positions traded with JPMorgan Chase. According to this figure, Aoyama should have owed JPMorgan about $1 billion in margin on Monday. According to people familiar with the matter, as a leading bank in global metal trading, JPMorgan Chase holds the largest short position in LME. Of course, this position is held for customers, and there is no sign that the bank is shorting the nickel price itself.

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