CESCO: China copper financing deals not yet unwinding, Goldman Sachs analyst says

There may be as much as one million tonnes of copper in financing deals in China but these arrangements are not unwinding yet, according to a Goldman Sachs analyst.

“I don’t think these deals have unwound yet because they are still profitable and their end would remove a third of the country’s monetary base but I think their days are numbered,” Max Layton said.

He told the CRU copper conference during the annual CESCO industry week in Chile that “hot money” inflows account...

Published

Andrea Hotter

April 10, 2014

06:05 GMT

Santiago