บท 852: Chapter 852: The warning received by Sumitomo Corporation
Xidumeng Woberg smiled and did not believe Jacob Rothschild's words.
Everyone is a thousand-year fox, and it is meaningless to talk about ghost stories.
He knew Jacob Rothschild's true nature very well. Beneath his kind appearance, there was a face that was even greedier than his.
If he was absolutely sure, Jacob Rothschild would have definitely made his move long ago. Now, he even had to share the profits with him for short selling against the islanders, which was too abnormal.
But since the Rothschild family provided the funds for the short sale, and G.S. Warburg would bear no risk, he just took the money and did what he was told. It would be great if the truth could be uncovered later.
'Siegfried, I think the pressure is still a bit too low. You need to use more tricks to make more profits, and efficiency is also very important,'
Jacob Rothschild gave his personal advice.
On his way here, he paid special attention to the situation of the entire market. The situation of the Bahraini bank was not good, and it could not withstand the offensive of the bulls. According to the rumour, Barret Bahrain had already expressed dissatisfaction, but because it was already in it, it was still struggling.
Jacob Rothschild could only start with Sumitomo Corporation and force it to withdraw from the long camp, temporarily relieving the pressure on Bahrain Bank while making a profit.
Therefore, on the three futures such as LME nickel futures, the greater the loss of Sumitomo Corporation, the more beneficial it is to him.
Syd Monger Warburg looked at Jacob Rothschild with slightly raised eyebrows and then smiled and nodded: 'No problem, I will leave the islanders with an unforgettable memory.'
'Want to go and have a look?'
'Sure...'
...
With the two world-class financial tycoons personally taking charge, the price of the LME nickel futures and the other two futures fell even faster, catching Sumitomo Corporation off guard.
Yanagawa Shu Ren could only respond passively, but he kept struggling, not wanting G.S. Warburg to set the pace, lest other institutions be afraid to enter the market and go long after the trend had formed.
Unfortunately, they had already lost the initiative and their capital was inferior to that of their opponent, so it was very difficult for them to fight back.
By the close of the following morning, the price of LME nickel futures had fallen to 7,745 US dollars per tonne, which was closer to G·S·Huabao's original position-building line of 7,500 US dollars per tonne.
However, G.S. Warburg had built up too many positions and had been stirring up trouble. Although some institutions had entered the market to buy LME futures contracts, many of them had been taken up by G.S. Warburg, leaving Sumitomo Shoji with no way to escape.
Not only that, but at around 10:30 a.m., G.S. Warburg seemed to be dissatisfied with the profit and once again made a significant adjustment to its position, reducing it from 7,500 USD/tonne to 6,500 USD/tonne.
At the lunch break, Yanagawa Shu-jin called a meeting with the managers of each trading team in the department to report on the situation of their respective teams.
After a round of reports, the atmosphere in the meeting room became very heavy.
The LME aluminum futures and LME copper futures were still in the black.
However, the LME nickel futures, LME zinc futures, and LME lead futures teams were not optimistic.
The LME nickel futures team had the biggest loss, at 48.7 million US dollars.
Next is the LME zinc futures team, with a floating loss of 29.2 million US dollars.
The least is the LME lead futures team, with a floating loss 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 US dollars!
And if nothing goes wrong, once the market opens in the afternoon, the prices of the three futures are expected to plummet again, and the floating loss will instantly exceed 100 million US dollars!
Based on this situation, it is estimated that if all three futures are to be liquidated, plus the comprehensive costs such as leverage costs and the transaction fees charged by the London Metal Exchange, the loss is likely to exceed 200 million US dollars!
And the loss of money is not the most important thing. What is more important is that the aftermath of Sumitomo's defeat will be huge, and there will definitely be investors withdrawing their capital. Moreover, the prestige that Sumitomo has worked hard to build over the past decade will be dealt a heavy blow.
'Knock, knock...'
Just then, the sound of a hurried knock on the door broke the tranquility in the office.
Yanagawa Shu-jen frowned, looking at Takayama Junpei, the manager of the LME copper futures trading team, who was closest to the door. The latter understood, got up and opened the door.
After opening the door, Yanagawa Shu-jen discovered that the person knocking was Otomo Daichi, the assistant to the president of Sumitomo Corporation's London branch.
After greeting Junpei Takayama, he came straight to the side of Takashi Yanagawa, and whispered something in his ear. Yanagawa's face changed, and he left with Otsuka, saying 'the meeting is suspended'. The group of people looked at each other in confusion.
Soon, Yanagawa arrived at the office of the branch president, Taro Maekawa.
'President, what can I do for you?'
Yanagawa Shu-jin stood straight and asked with his head bowed.
Maekawa Taro was a man with a square face in his early fifties. At this time, his face was ugly and he asked in a deep voice, 'What is the profit and loss situation of the metal trading department?'
Yanagawa Shu-jin immediately told him the data that the subordinates had just reported.
When he heard that the floating losses of the three departments, including LME nickel futures, were about to exceed 100 million US dollars, Maekawa Taro's eyebrows furrowed tightly.
Just as Yanagawa Shu thought he was about to bear the wrath of the president, he heard Maekawa Taro curse 'hassan' and then say to him, 'I just got a phone call.'
Yanagawa Shu looked up at Maekawa Taro in confusion, and the latter continued, 'It was an unfamiliar phone call, and the voice sounded like that of a middle-aged man. After confirming my identity, he left me with a warning!'
When it came to warnings, Maekawa Taro thought about the tone of the caller just now, and a flash of anger flashed in his eyes.
'He told me that the current LME nickel futures, LME lead futures, and LME zinc futures are just warnings, and if we don't give up going long on LME copper futures and LME aluminum futures, there will be more unexpected things happening next.'
Yanagawa Shu's eyes widened in shock, followed by anger. But the president was in front of him, so he could only forcefully swallow the words that were about to come out and suppress his anger, saying, 'President, going long on LME copper futures and LME aluminum futures was personally ordered by President Keigo Sumitomo.
Maekawa Taro of course knew this, and he said to Yanagawa Itsuhito, 'I know, I'm just letting you know about this, continue to be vigilant, and strive to complete the liquidation as soon as possible. I will report to the president later and see what he decides, and I will let you know then.'
'Understood!'
Yanagawa Itsuhito nodded seriously.
'Well, is there anything else you want to say?'
'Not at the moment.'
'Then go to the meeting.'
After sending away Yanagawa, Maekawa Taro pondered for a while before making up his mind and then making an international call.
The time difference between Tokyo and London was nine hours.
It was now just after noon in Greenwich, London, which was nine hours ahead of Tokyo time, so it was just after 3am in Tokyo, just about the time when people were sleeping the deepest.
Normally, Maekawa Taro would not disturb the president Sumitomo Keigo's sweet dreams at this hour.
But today is an extraordinary day, and he has no choice but to make the call.
In the home of Keigo Sumitomo in Tokyo, the urgent ring of the phone wakes him from his sleep with his wife in his arms.
After reassuring his wife, he rubs his eyes to wake himself up and answers the phone.
'This is the home of Keigo Sumitomo... Huh? Taro Maekawa? What do you want?'
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