Metal market reacts with caution to Fanya changes

Minor metals market participants are reacting with caution, but not yet alarm, amid speculation over regulatory action against the Fanya Metals Exchange.

On November 25 the exchange announced a rules change which Metal Bulletin understands was imposed on Fanya by a branch of the China Securities & Regulatory Commission as a condition for it to continue operating. 
This has prompted widespread discussion about the reasons for and implications of the action, and assessment if any response is necessary.
Some consumers have become a bit slower to buy new material for next year, as the rule change and inspection has created uncertainty over the direction in which prices will move, a minor metals processor said.

“Buyers for next year don’t know...

Published

Chloe Smith

December 03, 2014

12:23 GMT

Shanghai