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Maike Metals Founder He Jinbi Goes Missing, Believed to Be Detained by Police
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Chinese Copper Tycoon Goes Missing, Believed to Be Detained by Police
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China Spooks Commodity Traders With Probe Into Suspicious Deals
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The first gathering of the Asian metals community since the pandemic should have been a celebration, fueled by state stimulus and a long-awaited post-Covid rebound for the world’s top commodities consumer. But the resurgence never came.
Merchants, bankers, brokers and fund managers assembled in Hong Kong for the London Metal Exchange’s flagship annual Asian event showed little trace of the ebullience of late 2022, or even of the optimism of early 2023.
China’s largest bank is being sued by Dutch lender ING for losses suffered in a batch of copper deals in a case that highlights the risks of servicing the scandal-plagued world of commodity trading, reports the Financial Times. Amsterdam-based ING is claiming $170 million in damages from Industrial and Commercial Bank of China (ICBC), alleging it breached…