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China copper trading hit by commodity financing crackdown

Posted on 16 July 2014

A Chinese commodity trading house is accused of securing multiple bank loans against a single stockpile of copper and aluminium, causing ructions in copper prices and a dip in trading volumes.
The discovery of a financing practice by a Chinese trading firm using the same metals inventory as collateral to secure multiple bank loans has caused copper prices to plummet, yet futures traders have profited from the price dislocations………………………………………..Full Article: Source


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