The plunge of 300 points caused countless bulls to be strangled to death.

In the countless long losses, it also makes the short holders full of money one by one.

Within 24 hours, Jushi Capital grabbed $100 million again.

Under this crazy profiteering, even the winner has a kind of fear of wavering.

On the same day, at the comprehensive meeting of Titan Stone Capital.

Liu Qiang raised his uneasiness.

As a trader, this is his duty.

"Boss, in the past few months, London copper has fallen from a maximum of 3,300 points all the way to 1,860 points, and has hit a two-year record low.

I'm worried that if we rebound, our profits could be retraced significantly. ”

Liu Qiang's words make a lot of sense.

In the midst of the continuous plunge, London copper hit a new all-time low in two years.

Under the plunge there will be a surge.

Once London copper rebounds, it will inevitably cause Jushi Capital, which holds a large number of short positions, to suffer losses.

Theoretically, anything can be infinite when it goes up, but it can never be infinite when it falls.

Take London copper, for example.

The underlying of the London Stock Exchange's March copper is copper cathode.

From mine mining, to the condensation and extraction of ore to processing into copper cathode.

Every link requires a lot of manpower and material resources.

These are the costs of production.

Whether it is a mine or a copper company, the purpose of producing copper is to make money.

If the price of copper falls too much, the scale of production will inevitably be lost and forced to choose to reduce production.

The price comes from the relationship between supply and demand.

When supply is drastically reduced, prices are bound to rise passively.

This is a truth that everyone understands.

As the chief trader in the trading department, Liu Qiang felt that it was necessary for him to remind his boss that it was time to be aware of the risks.

Liu Qiang's words fell.

Li Cannon of the Intelligence Department also spoke.

The current Li cannon is proud of the spring breeze.

Since coming to Hong Kong, the personnel of the intelligence department has expanded significantly, and now, Li Dacang is in charge of the department leader of ten people.

On weekdays, in the department, Li Cannon has the highest authority.

This made Li Dacang grateful to Zhao Jiangchuan in his heart.

He now has an annual salary of hundreds of thousands, and he can still manage more than a dozen people every day.

It's okay to brag, you can put on a leadership shelf.

All of this was given to him by Zhao Jiangchuan.

So Li Dacang felt that it was necessary for him to do what he had to do.

Zhao Jiangchuan is his Bole, and his thousand-mile horse naturally can't live up to Bole's trust.

"Boss, according to the intelligence data we have collected, the cost of Chilean mining companies from the mine to the production of copper cathode is estimated to be about 1,760 US dollars, plus the transportation cost from offshore to the port, about 1,800 yuan per ton. ”

"The cost of Freeport and Mexican copper is relatively low, but it is also very limited, and it is expected to cost at 1,700 yuan. BHP Billiton, Rio Tinto and Anglo American Copper are even more expensive, estimated at US$2,000 a tonne. ”

"Other smaller companies have higher production costs, averaging around US$2,200, with Zambia copper being the most costly, with an estimated cost of US$2,400 per tonne. ”

After the Lee cannon returned.

He Changtian of the Risk Control Department spoke.

This is the meeting method of Jushi Capital, and it is also the rule set by Zhao Jiangchuan.

The purpose is to create a good army.

An investment force that can coordinate and cooperate with various departments to complete tasks independently even when Zhao Jiangchuan is not in the company.

He Changtian.

A high-achieving student of Peking University.

Born in a cold cold, after graduation, he was assigned to the Bureau of Statistics, and after hitting walls everywhere in the unit, he accidentally joined the original amphibole investment.

After the company moved to Hong Kong, they also followed.

Two years ago, He Changtian was still a poor scholar who couldn't even eat.

And now, he is a senior management of Jushi Capital with an annual salary of hundreds of thousands.

Therefore, He Changtian never regretted that he did not continue to engage in politics at the beginning, and he was even more glad to have joined Amphibole Investment.

Many of those classmates who were like him back then were still struggling at the bottom.

Even those children of rich families back then were nothing more than going home to inherit their family's property.

Among the countless classmates, it is simply rare to be able to have hundreds of thousands of returns every year like him.

If you treat me as a countryman, I will repay you as a countryman.

In He Changtian's heart, Zhao Jiangchuan had the grace of knowing him, and he swore that the risk control department in his hands would never let Zhao Jiangchuan down.

As a risk control department, it is to control and prevent the risks that the company will face.

market risk, financial risk, and decision-making risk, etc.

These are all within the scope of He Changtian's responsibilities.

In this regard, He Changtian's requirements are almost harsh, so harsh that Zhao Jiangchuan sometimes doesn't know whether to praise him or scold him for not knowing how to be flexible.

In Jushi Capital, almost no one dared to refuse Zhao Jiangchuan's order.

But one person refused.

He Changtian is the head of the risk control department.

When Zhao Jiangchuan once wanted to use all the company's funds to sell short positions, He Changtian did not hesitate to oppose on the spot.

And use its own authority to limit the proportion of positions in the trading department.

That time, the profit of Jushi Capital was at least more than 100 million US dollars.

This made Zhao Jiangchuan very helpless.

Who asked him to explain to He Changtian that in the company's position, if there is no double profit, the capital must always be controlled within 60%.

Coincidentally, He Changtian is a dead eye again.

Keep biting this one.

Even if Zhao Jiangchuan was almost angry at that time, He Changtian was stunned and did not let go.

"Boss, at present, the company's funds have reached 50%, reaching the third warning line, I think it is necessary to reduce the proportion of positions to prevent the risk of uncertainty in the market. ”

This time, He Changtian's attitude was not very tough.

It's not that He Changtian's personality has changed.

In the company's position, there is currently a profit of 500 million, which can already amplify the risk tolerance in the maximum range.

But if the degree of risk reaches 70% of the drawdown of funds, then He Changtian's character will definitely cut first.

It may even be forced to close all positions of the company without Zhao Jiangchuan's consent.

This is He Changtian, who is different from Li Cannon's sleekness, and Liu Qiang's ordinary.

The personality is as distinct as a tendon, which is the best portrayal of He Changtian.

The content of this meeting is mainly aimed at the investment department.

After various senior officials of the department expressed their opinions.

Zhao Jiangchuan began to make routine comments.

"The price of London copper has hit a two-year low, Liu Qiang, do you know what that means?

From a trading point of view, there are new highs on top of new highs, and in the same way, there are new lows below new lows.

At present, the bulls in the market have lost a lot, just like the victorious army on the battlefield, now is the best time to take advantage of the victory to pursue and expand the results. ”

"Cannon's analysis of the costs of the various mining groups is very good, basically close to the de facto cost line. But cost never represents the true price.

You have to remember that value is given by capital, and cost is never the bottom line to curb something.

In the financial markets, it is never impossible, only the possibilities are endless.

In 1967, International No. 11 fell to 2 cents.

Buying at such a low price, is it safe to make a profit?

Because the international sugar market does not talk about the cost of production and planting, the cost of burlap bags for packaging sugar alone plus the labor cost of loading sugar is more than 2 cents.

Finally, many people believe that buying sugar futures around 2 cents/lb is a rare opportunity in history.

Guess what the outcome is.

White sugar didn't climb up as many people thought, and after a few months it fell wildly until it fell to 1.33 cents a pound.

Isn't it incredible?

What I want to tell you is that our purpose is to make money, and the price is not directly related to whether we can make money or not, and the cost is not decisive for the price.

In the face of capital, in the face of the general trend, any reason is nonsense.

Now, the bulls in the market are panicked birds, and they simply cannot organize any effective counterattack.

In this case, it is a good time to rob. ”

Zhao Jiangchuan paused and shouted.

"Liu Qiang. ”

Liu Qiang was startled, and hurriedly stood up like a named soldier.

He knew that Zhao Jiangchuan was about to give an order.

Liu Qiang snorted and replied.

"To. ”

"On top of the original position, continue to increase the size of the position, full firepower, I want to drive the global copper market into hell. ”

There was silence in the venue.

At this time, no one dared to refute Zhao Jiangchuan's order.

The domineering in his eyes made everyone subconsciously choose to obey.

What is Hell?

No one knows, and no one knows if there is hell at all.

But for the human world, corpses everywhere is hell.

When a large number of people starve to death because they have no access to food, it is hell.

The Republic of Zambia is a landlocked country in south-central Africa, mostly in the highlands.

It is bordered by the Democratic Republic of the Congo to the north, Tanzania to the northeast, Malawi to the east, Mozambique to the southeast, Zimbabwe, Botswana and Namibia to the south, and Angola to the west.

Zambia gets its name from the Zambezi River, which is also the source of the Congo River. Copper ore is relatively abundant, and it is also known as the country of copper mines.

The northern part of Zambia is located on the Zambia-Gange Copper Belt, the world's largest sedimentary copper deposit, which alone accounts for 25% of the world's total copper reserves.

It forms a "copper belt" 220 kilometers long and 65 kilometers wide in Zambia.

Fifty-seven per cent of the country's land area, or about 43.2 million hectares, is suitable for agricultural production, of which 39 million hectares are medium to high yielding areas, with an average annual rainfall of 800 to 1,000 mm.

Most of these areas have fertile land, abundant water resources and sparse population, which are suitable for planting a variety of crops on a large scale.

However, as of 1996, only about 2.02 million hectares of arable land had been developed, or about 4 per cent of the arable land, and less than 1 per cent of the arable land was used for growing food crops.

In such a country, the food it produces is naturally not enough to supply the needs of the people.

But for a mineral-rich country like Zambia, food inadequacy is not a problem.

As long as there is enough wealth, you can buy enough food.

But suddenly, everything changed.

The Zambians found that they did not know when they stood at the entrance to hell.

Maybe it won't be long before they reach Infernal Purgatory.

Half a year ago, the international copper price suddenly plummeted by $3,600.

In just half a year, it plummeted from $3,600 to $1,400.

This price is a nightmare for people who depend on the copper industry for their livelihood.

Even 20 years ago, the price of copper was like this.

But now, another 20 years later, the price of copper has been beaten back to the original point, but people's lives can never go back to the past.

Lumwana copper mine in the north-western province of Zambia. With proven ore reserves of 102 million tonnes grading 1.1%, it is claimed to be one of the world's largest undeveloped copper mines.

Australia's Equinox plans to invest US$100 million in the mine, which is expected to start production in 1998.

But suddenly, Equinox announced that it was abandoning the mine.

Because at the current price of copper in the international market, mining means throwing money away, or throwing money into that kind of pit that no one knows how deep.

Konkola Copper Mine.

Proven ore reserves are 250 million tonnes grading 3.8%. It was originally operated by Anglo American, but recently, Anglo American announced layoffs.

Large-scale layoffs have left a large number of Aboriginal workers unemployed.

Nchanga Copper Mine. It is dominated by sulfide ore and oxide ore, with proven reserves of 206 million tons, which is the largest open-pit copper mine in Zambia and the fourth largest in the world.

The mine is owned by Concora Mining Company.

However, under the collapse of international copper prices, Concora Mining Company also chose to lay off employees to reduce expenses.

If steel is the first major fund genus, then copper is the king of non-ferrous metals.

Under the collapse of copper prices, other related non-ferrous metals have plummeted.

All of a sudden, the operation of large-scale international mining companies began to appear in crisis.

In Zambia alone, as many as 18 mining companies have announced temporary shutdowns, and a large number of mining companies have chosen to reduce their spending by laying off employees.

This result is a nightmare for the Zambian government and for the people of Zambia.

A large number of production cuts and shutdowns have caused widespread unemployment.

When income is confiscated, many families are in a crisis of food shortage.

Black people are very strange creatures.

This kind of creature does not have the Chinese people's awareness of danger in times of peace, or in other words, there are not many people in the world who know how to save as much as the Chinese people.

In Zambia, these are black miners or employees of copper companies.

It is often a day monk who hits the clock for a day.

After getting paid at the weekend, a large percentage of people will choose not to go to work the next week.

Only when the money in their pockets is spent will they choose to continue working.

The sudden appearance of large-scale unemployment has caused panic among the unemployed.

After losing their income, they fell into a crisis where eating became a problem.

After only one month of unemployment, many people choose to rob or steal for a living because they have no money.

No one knows how soon Zambia will become a living hell.

。 m.