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China banks curb loans to commodities firms in hot-money battle

Posted on 06 June 2013

Chinese commodities firms importing everything from gold and rubber to base metals are struggling to get trade loans as banks scrutinise their activities and hold back credit following Beijing’s orders to rein in currency speculation.
China is the world’s top consumer of base metals and rubber, and the second-largest gold buyer after India. A crimp in imports as financing becomes harder will be bearish for the international benchmark prices of these commodities, but could mean their domestic prices will be supported………………………………………..Full Article: Source


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