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Sherritt International Corp T.S

Alternate Symbol(s):  SHERF

Sherritt International Corporation is a Canada-based company engaged in the mining and refining of nickel and cobalt metals essential for the adoption of electric vehicles. The Company is engaged in the production of high purity nickel and cobalt metals from lateritic ore. Its technologies group creates solutions for oil and mining companies around the world to improve environmental performance. It is also the independent energy producer in Cuba. The Company offers a range of products including Nickel, Cobalt, Fertilizers and Other Products. The Nickel products category includes standard grade, steel grade, and nickel powders. The Cobalt products category includes cobalt briquettes and cobalt powders. The Fertilizers product category includes anhydrous ammonia, granular ammonium sulfate, crystalline ammonium sulfate-super salt, and crystalline ammonium sulfate-standard grade. The Other products category includes sulfuric acid, zinc sulfide, and copper sulfide.


TSX:S - Post by User

Comment by mas7575on Mar 14, 2022 9:38am
90 Views
Post# 34511253

RE:RE:RE:RE:JPMorgan Leads Talks to Contain Nickel Crisis Damage

RE:RE:RE:RE:JPMorgan Leads Talks to Contain Nickel Crisis DamageIn theory, yes there are. But IMO the brokers, big banks and especially XG established short positions far in excess of these needs and for far different (for example, speculative) reasons.

from the article in googster1974's recent post:
https://www.wsj.com/amp/articles/jpmorgan-leads-talks-to-contain-nickel-crisis-damage-11647203014
Metal producers typically sell forward contracts on exchanges to lock in prices, known as hedging. Tsingshan, however, has both sold and bought nickel contracts over the past decade, people familiar with the company said, making the activity more akin to trading.
 
Early last year, the company began to accumulate a short position, the people said. It made statements on its website and panels suggesting the market was flush and prices should fall. Tsingshan’s position was equivalent to having sold about 190,000 metric tons on the LME, traders, bankers and analysts estimate. That would be worth $9.1 billion at last Monday’s closing prices.

cheers,
mas75
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