The “demon nickel” incident of China Tsingshan Group has made the London Metal Exchange (LME) and Tsingshan Group the focus of the international financial market, and gradually exposed the inside story of how the Hong Kong Stock Exchange and the Chinese Communist Party (CCP) influence the global nickel price through the LME. Industry experts believe that Hong Kong is in a unique position for Beijing to expand internationally. The CCP has always wanted to use Hong Kong’s status as an international financial center to deceive the world and do something that is not in line with international norms.
On March 16, the LME resumed nickel trading, which was suspended on March 8, but limited the daily range of nickel price fluctuations. This move greatly eased the pressure on China Tsingshan Group. After the LME resumed trading, it was impossible for nickel prices to repeat the surge from $40,000 per ton to over $100,000 that happened in one day on March 8.
