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The Tsingshan Nickel Crisis Couldn’t Have Come at Worse Time for Zimbabwe

by Eric Olander
Chinese steel giant Tsingshan is poised to suffer $8 billion in trading losses. Image via 163.com.

News that Chinese steel and mining giant Tsingshan Holdings Group now faces a staggering $8 billion trading loss over short sales of nickel is no doubt prompting considerable anxiety among policymakers in Zimbabwe.

Just this week, Tsingshan’s local subsidiary in Zimbabwe, Dinson Iron and Steel, announced that the first phase of power construction for a new billion-dollar steel plant is now complete.

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