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Hope you don't know anyone who's shorting nickel futures, because one Chinese company did exactly that. The WSJ reports that Monday, Tsingshan Holding Group took a paper loss of $8 billion. Nickel prices rose by more than 250% in two days due to worries about Russia's production, and this is just too much volatility for investors to handle. As a result, the London Metal Exchange shut nickel trading through the rest of the week.
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“We are sorry.”
On Friday, Shell apologized for buying Russian oil the previous day, stating, "we are acutely aware that our decision…was not the right one" The UK corporation announced that it would immediately stop purchasing Russian oil and close down all of its service stations in the nation.
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