Mar 11, 2022 07:23 AM

FINANCE

Chinese Banks Assess Derivatives Risks After Nickel Turmoil

By Wu Xiaomeng and Han Wei

The incident spurred Chinese banks to review their derivatives business, although such operations are limited only to certain subsidiaries

The incident spurred Chinese banks to review their derivatives business, although such operations are limited only to certain subsidiaries

Chinese stainless-steel giant Tsingshan Group’s wrong-way bet on nickel futures rocked the global commodity market while giving Chinese banks the jitters.

Several commercial banks and financial institutions have been closely monitoring market developments and launched internal inspections to assess risks following the wild rally of nickel, people with knowledge of the matter told Caixin Wednesday.

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