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China Won’t Sink Copper’s Ship

Posted on 13 June 2014

In China’s latest metals-for-loans scandal, it is easy to make mountains out of molehills. As far as copper is concerned, investors should try to see the issue for what it is—a medium-size molehill.
Copper spot prices have slumped 4% since reports that Chinese authorities are cracking down on traders who use metals such as copper as collateral for loans. The case is complicated by evidence that a trader may have used metal stored at the northeastern port of Qingdao as collateral for multiple loans, possibly defrauding several Western banks, including Standard Chartered and Citigroup……………………………………….Full Article: Source


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VRS - who has written 39456 posts on Opalesque Commodities Briefing.


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