Qingdao warehouse receipts scandal involves 400,000 tonnes of material, port says

Qingdao Port International has said that about 400,000 tonnes of material was involved in the financing fraud uncovered at the port in June.

The suspected fraudulent use of warehouse receipts involved 300,000 tonnes of alumina, 20,000 tonnes of copper and 80,000 tonnes of aluminium ingots, a report in the South China Morning Post quoted the port operator as saying. The port also said the quantity of metal involved was very small compared to...

Published

Deepali Sharma

September 12, 2014

14:46 GMT

Singapore