China's refined copper imports were 255,041 tonnes in June, down 8.2%
year-on-year as banks tightened credit for copper financing business
amid the Qingdao fraud.
"The exposure of the Qingdao scandal in early June was like a bomb to
the commodity market," a trader said. "Not only the business in Qingdao
but the whole commodities market is in a panic with banks, traders and
warehouses all having exposure to the port."
Source: Metal Bulletin |
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