Because Russian nickel was kicked out of the exchange and could not be delivered, the empty bill of 200,000 tons of nickel issued by Qingshan Group may not be delivered. According to market rumors, Glencore forced its position in LME Nickel Mine and took a 60% stake in Indonesia Nickel Mine.

Qingshan Group is a partner of Huayou in developing nickel projects.

"Market rumors, a company in southern China made a lot of short hedging on nickel. This situation is reminiscent of a capital sniper war in 1995-Sumitomo Copper incident. The nickel market has reached a white-hot level. "