Shanghai copper premiums slump as Qingdao metal collateral probe continues

Shanghai copper premiums dropped by as much as $25 on Tuesday June 3 after authorities launched a probe into the pledging of bonded metal stored in warehouses in Qingdao as collateral for multiple loans.

Although Shanghai copper inventories are not under investigation, concerns about the potential widening of the probe nevertheless prompted sellers to drop their offers and buyers to withdraw bids, causing trading...


Mark Burton

June 03, 2014

16:04 GMT