China shares of Tsingshan's business partners tumble amid nickel volatility

SOHO China

09/03/2022 02:07

** Shares of companies exposed to Tsingshan Holding Group,
the Chinese nickel producer squeezed by the metal price surge,
tumble 
    ** Tsingshan bought large amounts of nickel to reduce its
short bets on the metal and its exposure to costly margin calls,
turbocharging a record rally fuelled by the conflict in Ukraine,
three sources familiar with the matter said  urn:newsml:reuters.com:*:nL2N2VB0NU
    ** Zhejiang Huayou Cobalt Co Ltd  603799.SS  slump almost
10% in early trading to the lowest level since June 2021
    ** CNGR Advanced Material Co Ltd  300919.SZ  fall as much as
5.2%
    ** Zhejiang Yongjin Metal Technology Co  603995.SS , GEM Co,
Ltd  002340.SZ  and Zhejiang Weiming Environment Protection Co
 603568.SS  also drop


    ($1 = 6.3269 Chinese yuan)

 ((samuel.shen@thomsonreuters.com;  +86 21 20830018; Reuters
Messaging: samuel.shen.thomsonreuters.com@reuters.net))