v3 Chapter 859： Warnings received by Sumitomo Corporation (1/2)
Latest URL: Sidmund Warburg smiled, and did not believe what Jacob Lowhill said.
Everyone is a thousand-year-old fox, and it's boring to talk about Liao Zhai.
He knew very well the nature of Jacob Rosill. Under his kind appearance, there were faces that were more greedy than him.
If you have absolute certainty, Jacob Rohill would definitely have done it a long time ago, and now it's abnormal to even set aside interest for the islanders to come forward.
However, anyway, the funds for shorting are provided by the Rohill family, and GS Huabao will not have any risk. He can take the money and take care of it. It would be great if the truth can be discovered later.
”Sidmonger, I think the current pressure is still a bit small, you need to use more skills to strive for more profits, and efficiency is also very important.”
Jacob Rohill made a personal suggestion.
When he came, he also paid special attention to the situation of the entire market. The situation of the Bank of Barings was not good and could not withstand the bull's offensive. According to the news that came back, Barritt Barings had expressed dissatisfaction, but because he had fallen into it, now Still struggling.
Jacob Rohill can only start from the Sumitomo Corporation, forcing him to withdraw from the bulls camp, temporarily reducing pressure for the Bank of Bahrain, and making a fortune.
Therefore, in the three types of futures including LME nickel futures, the greater the loss of Sumitomo Corporation, the better for him.
Sidmund Warburg raised his brow and glanced at Jacob Lowhill, then smiled and nodded: ”No problem, I will leave an unforgettable memory for the islanders.”
”Are you going to have a look?”
”of course……”
...
Under the personal control of the two world's top financial tycoons, the price of LME nickel futures and other three futures fell at an accelerated rate again, and Sumitomo Corporation was caught off guard.
Liuchuan Shuren can only respond passively, but he is constantly struggling, and does not want G·S·Huabao to play the rhythm, lest other institutions dare not enter the market easily after the general trend is formed.
However, the initiative has been lost, and the capital is not as good as people, it is too difficult to struggle.
At the close of the next morning, the price of LME nickel futures had fallen to US$7,745/ton, which was closer to G·S·Huabao’s original opening line of US$7,500/ton.
However, G·S·Huabao has built too many positions and has been disrupting the situation. Although some institutions have entered the market to purchase LME futures contracts, many of them have been taken over by G·S·Huabao, causing Sumitomo Corporation to flee.
Not only that, around 10:30 in the morning, G·S·Huabao seemed to be still not satisfied with this profit, and again adjusted its position significantly, from $7,500/ton to $6,500/ton.
When the market was closed at noon, Liuchuan Shuren convened a meeting with the managers of the various trading teams of the department to report on the situation of their respective teams.
After reporting in a circle, the atmosphere in the meeting room became very heavy.
LME aluminum futures and LME copper futures are okay, and there are currently floating profits.
But the three teams of LME nickel futures, LME zinc futures, and LME lead futures are not optimistic.
Among them, the largest floating loss is the LME nickel futures team, with a floating loss of up to 48.7 million US dollars.
Followed by the LME zinc futures team, the floating loss was 29.2 million US dollars.
The least thing LME lead futures team, floating losses of 21.3 million US dollars.
The three teams have a combined floating loss of 99.2 million US dollars!
The floating loss is about to break 100 million!
And if nothing goes wrong, as soon as the market opens in the afternoon, the prices of the three futures are estimated to plunge again, and the floating loss will be able to exceed 100 million in an instant!
According to this estimation, the three futures want to be all cleared and exited, plus the combined costs of leverage costs and transaction fees drawn by the London Metal Exchange, the loss is likely to exceed 200 million US dollars!
Moreover, the loss of money is not the most important thing. More importantly, the subsequent impact of Sumitomo Corporation's failure will be great. There will definitely be investors withdrawing funds, and the power that Sumitomo Corporation has worked hard in the past ten years will be severely damaged.