7. What will happen if you take a large position without splitting the order into small orders, and submit one large order under one name? Will you be easily targeted in the commodity futures market?

a. Search for LME Nickel futures contract specification. What is the standard of the underlying? In practice, what nickel product does LME accept for physical delivery?

b. Is Tsingshan's product certified for futures delivery? If not, is this hedge a perfect hedge? Any underlying mismatch? How does it affect the margin requirement? How does it affect hedging position?

c. What are the choices usually for futures sellers at maturity?

d. If Tsingshan was market-cornered because of lacking spots for delivery, then what are the choices left?

e. What does it mean cash settlement and physical delivery, generally, are they the same for futures sellers? Are they the same for futures buyers? Alternatively, on what conditions, are they the same? On what conditions, do they result differently?