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Have large banks in China fallen victim to a commodities fraud?

Posted on 13 June 2014

Large banks and trading firms are frantically trying to determine whether they have fallen victim to a suspected commodities fraud emanating from the giant Qingdao Port in northeast China.
Citigroup and several other big Western banks are concerned that their loans may lack the appropriate collateral of big stockpiles of copper and aluminum at the port. The banks have inspectors on the ground who are trying to assess whether enough of the metals are there………………………………………..Full Article: Source


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VRS - who has written 40616 posts on Opalesque Commodities Briefing.


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