Chinese Tycoon Behind Big Nickel Short Faces Billions in Losses

Xiang Guangda — who controls the world’s largest nickel producer, Tsingshan Holding Group Co., and is known as “Big Shot” in Chinese commodity circles — has closed out part of his company’s short position and is considering whether to exit the wager altogether, the people said. Nickel rocketed to a record high above $100,000 a ton on Tuesday, driven in part by Tsingshan and its brokers’ activity, before trading was suspended.