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Commodities Briefing - Categorized | Financial, Market Moves more

China Commodity Financing Seen Declining by Goldman Sachs

Posted on 11 June 2014

Foreign banks are projected by Goldman Sachs Group Inc. to lend less money against commodity inventories in China amid a probe into metals stockpiles in the biggest consumer of raw materials.
Claims that single batches of copper and aluminum at Qingdao Port were pledged as collateral for multiple loans risks undermining a broader practice in which traders use everything from iron ore to rubber to get funding. The investigation is already weighing down copper prices and may curb foreign exchange inflows to China, according to a report by Goldman………………………………………..Full Article: Source


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