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Copper Metals Under Pressure As China Financing Probe Continues

Posted by StockBuz on June 7, 2014 at 12:10pm in Commodities and Macro
The investigation is looking into whether single cargoes of metal were used multiple times to obtain financing, according to industry sources. Trading houses and banks have sent executives to the port to physically check on their exposure, while some banks have stopped new metal financing to some clients in China. Traders said holders of copper in Qingdao that were having difficulty obtaining finance could also be forced to deliver

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